BC Doubles Natural Gas Reserves Estimate

The Vancouver Sun reports that British Columbia has double the natural gas reserves than previously estimated, according to a BC government news release.

As quoted in the market news:

“The new estimate of resources in the Montney Formation means B.C.’s total natural gas potential is now a staggering 2,933 trillion cubic feet,” the release stated.

“This potential supply can support development and LNG export operations for more than 150 years.”

The report says “there are more than 10 proposed LNG projects in B.C., three of which already have approved export licences from the National Energy Board.” If half of these come to fruition, the report adds, it would add up to $1 trillion to the province’s GDP by 2046 and result in 100,000 new jobs.

Click here for the full story in The Vancouver Sun