BC Advantage

The B.C. Advantage

  • British Columbia is Canada’s second-largest natural gas producing region (behind alberta) at 3.4 billion cubic feet per day and second-largest reserve holder.
  • BC’s Horn River and Montney shale are estimated to have over 250 trillion cubic feet (Source: Various)
  • Land sales in B. C. fetched $2.66 billion in 2008, up from $1.5 billion in 2007.
  • Producers completed 597 wells in the province in 2007, the vast majority targeting natural gas.
  • Exploration and production expenditures (including land sales) were $8.26 billion in 2007.
  • Royalty payments to government amounted to $1.7 billion in 2007.

Key Investments:

  • EnCana Corp has committed an initial investment of $400Million for a multi-billion dollar gas processing facility with initial capacity of 400 million cubic feet per day.
  • The Provincial Government is investing $187 million into regional infrastructure to provide year round access and increase traffic capacity.
  • TransCanada Corp. has committed to invest $340 million to build a 36-inch pipeline from the Horn River region to the Alberta system a distance of approximately 155km. TransCanada has secured initial shipper commitments for 374 million cubic feet per day.  The pipeline is expected to operational early Q2/2011.
  • Kitimat LNG is building a Liquid Natural Gas (“LNG”) plant to cool and ship natural gas for export to Asia and beyond. Completion date is targeted at 2012. Kitimat LNG has entered into  multi-billion dollar, multi-year deals to provide natural gas to Korea Gas Corp. and Spain’s Gas Natural.

Source: CAPP Statistical Handbook, Canadian Centre for Energy

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2 responses to “BC Advantage

  1. BC Advantage? LOL, how about getting some people in the Ministry of Energy and Oil and Gas Commission who know something about energy? Bunch of lumberjacks running the energy show in BC, not much chance of good policy with them, and the NDP coming to town.
    Experienced operators bugging out as fast as they can selling to Asians who don’t know any better, yet.

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