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Joint Report Reveals Increase in B.C.'s Natural Gas Resources

06/09
For immediate release
31 March 2006

Joint Report Reveals Increase in B.C.'s NaturalGas Resources

CALGARY - The National Energy Board (NEB) and British Columbia Ministry of Energy, Mines and Petroleum Resources (MEMPR) today issued a joint Energy Market Assessment (EMA), revealing the province has more than enough conventional gas resources to maintain a high level of energy activity for many years.

The EMA, entitled Northeast British Columbia's Ultimate Potential for Conventional Natural Gas, reports that as of year end 2003, the remaining gas available for future demand in the northeast area of the province is 35 Trillion cubic feet (Tcf). It also indicates an increase of ultimate conventional marketable gas resources of over 1 Tcf from the 1994 estimate of 51 Tcf to 52 Tcf. Ultimate potential is a science-based estimate of the total amount of conventional natural gas in northeast B.C., including what has been produced to date. The current annual production from this region is approximately 1 Tcf.

The report shows B.C. has additional conventional and unconventional gas resources that could be drawn upon in the future. These additional resources are located in B.C.'s northwest and interior basins, such as the Nechako and Bowser Basins, the southeast portion of the province and offshore. These are all areas in which the Provincial Government is interested in encouraging resource research and development.

British Columbia is an important contributor to Canada's natural gas supply, providing approximately 15 per cent of all production. The report is important as it provides the basis for sound resource management and sustainability planning, future production estimates, provincial revenue projections and more. Science-based information like this will inform the Province's considerations as it drafts the 2006 Energy Plan for B.C., due out before the end of the year.

"Our energy planning takes a great deal of factors into consideration, including what our current energy levels are, what is left and how we will manage those important resources," said Minister Richard Neufeld of the B.C. Ministry of Energy, Mines and Petroleum Resources. "Planning like this is informed by scientific reports like this. This new report - estimating an increase of 1 Tcf of natural gas resources - will encourage further international interest and investment in our resources as well."

As part of its mandate, the NEB monitors the supply of all energy commodities in Canada and publishes reports including EMAs. Ultimate potential EMAs are published on an on-going basis to reflect changes in estimates based on new discoveries or new plays being developed. This is the second time the NEB has collaborated with a provincial department to produce a joint report.

"The partnership with the Ministry in B.C. was a valuable one as we were able to work together to better understand the gas resources in the province," said Kenneth Vollman, NEB chairman. "We're looking at the need for future assessments in other areas of the country and see the benefit of provincial partnerships to better serve the Canadian public."

The NEB is an independent federal agency that regulates several parts of Canada's energy industry. Its purpose is to promote safety and security, environmental protection, and efficient energy infrastructure and markets in the Canadian public interest, within the mandate set by Parliament in the regulation of pipelines, energy development and trade. As part of its mandate, the NEB monitors the supply of all energy commodities in Canada and reports its findings. The NEB Internet site is regularly updated with new energy information for the Canadian public.

MEMPR manages the responsible development of B.C.'s energy, mining and petroleum resource sectors. The Ministry performance plan outlines our strategies to increase jobs, investment and revenue related to these sectors, while acting as an environmental steward protecting the affected land base.

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For further information:

Jim Davidson
Team Leader, Gas
National Energy Board
E-mail: jim.davidson@neb-one.gc.ca
Telephone: 403-299-3135
Telephone (toll free): 1-800-899-1265
Telecopier: 403-292-5503
Telecopier (toll free): 1-877-288-8803
TTY (teletype): 1-800-632-1663

Kristen Higgins
Communications Officer
National Energy Board
E-mail: kristen.higgins@neb-one.gc.ca
Telephone: 403-299-3122
Telephone (toll free): 1-800-899-1265
Telecopier: 403-292-5503
Telecopier (toll free): 1-877-288-8803
TTY (Teletype): 1-800-632-1663

Jake Jacobs (jake.jacobs@gov.bc.ca)
Communications Officer, MEMPR
Telephone: 250-952-0628
Telephone (Cell): 250-213-6934
MEMPR Web site

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