Natural Gas Industry Boosts B.C. Economy in 2010
By 250 News
Tuesday, December 28, 2010 05:13 AM
Victoria, B.C.-B.C.'s natural gas industry enjoyed increases in investment, market share, and wells drilled, boosting the province's economic recovery in 2010.
Drilling activity in British Columbia increased in 2010 by 10.3 per cent over 2009. B.C. accounts for 14 per cent of all natural gas wells drilled in Canada, up from 5.7 per cent in 2000.
Natural gas production is forecast to reach 1.14 trillion cubic feet (Tcf) and provincial revenue is projected at $1.38 billion in fiscal year 2010-11. B.C.'s natural gas reserves have more than doubled since 2000, now counting for more that 30 per cent of Canada's total reserves.
Industry invested $5.2 billion in capital in the province in 2009 and a higher number is expected for 2010. This is more than 23 per cent of all natural gas investment in Canada, and is almost three times as much as a
decade ago. This spending generates jobs and infrastructure development throughout the province.
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Posted by: gamblor on December 28 2010 9:43 AM