ARCHIVED: Natural Gas Development
A new assessment released today indicates British Columbia’s natural gas resources are larger than previously estimated.
The report focuses on the potential of the Liard Basin, a resource area within the boundaries of British Columbia, the Northwest Territories and the Yukon. The new estimate for B.C.’s portion of the Liard Basin is now 848 trillion cubic feet (tcf) of natural gas, up from the Province’s previous estimate of 210 tcf.
This new resource estimate means B.C.’s total natural gas potential now surpasses 3,400 tcf. If industry were able to extract 20% of B.C.’s total resource over the long-term, future development and liquefied natural gas (LNG) export operations could be sustainable for more than 160 years.
The report, titled “The Unconventional Gas Resources of Mississippian-Devonian Shales in the Liard Basin of British Columbia, the Northwest Territories, and Yukon” can be found online: http://www.neb-one.gc.ca/nrg/sttstc/ntrlgs/rprt/ltmtptntlbcnwtkn2016/index-eng.html
Quote:
Rich Coleman, Minister of Natural Gas Development –
“British Columbia’s resource potential is a competitive advantage over many other parts of the world. This report shows our long-term prospects are stronger than before and that the Liard Basin can create economic activity and jobs in our province for a very long time to come.”
Quick Facts:
- The Liard Basin is located in the far northeast corner of British Columbia where the provincial border meets both the Northwest Territories and the Yukon.
- This is the first time the gas potential of the Liard Basin has been formally assessed as part of a joint study.
- The report was published by Canada’s National Energy Board, with contributions from British Columbia’s Ministry of Natural Gas Development, BC Oil & Gas Commission, the Northwest Territories Geological Survey and the Yukon Geological Survey.
