B.C’s Natural Gas Potential Higher Than first Thought
Victoria, B.C.- An assessment of the Liard Basin, part of which lies within B.C.’s borders, indicates the estimated natural gas in the BC portion of that basin is four times what was previously thought.
The assessment, published by Canada’s National Energy Board, pegs the estimate at 848 trillion cubic feet, previous estimates indicated there might be as much as 210 trillion cubic feet..
That new assessment boosts B.C.’s total natural gas potential to more than 3,400 trillion cubic feet. The report says if just 20% of the resource was extracted over the long term, it would be enough to operate LNG exports for more than 160 years.
Minister of Natural Gas Development, Rich Coleman says the 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.”
While there are several LNG projects in the works, there are still final investment decisions to be made, and environmental assessments to be approved.