WASHINGTON, DC, June 18 /CNW/ - With news today that the United States
has more recoverable natural gas than previously believed, the U.S.-based
Natural Gas Supply Association (NGSA) and the Canadian Association of
Petroleum Producers (CAPP) issued a joint statement to highlight the
importance of natural gas as both a low-carbon energy source and a long-term
fuel for North America's secure energy future.
"Clean-burning natural gas is a sustainable fuel of the future - and it's
already a reality and contributing significantly to our energy mix," said R.
Skip Horvath, President of the Natural Gas Supply Association (NGSA). "Today's
report from the Potential Gas Committee is great news for North America."
The Potential Gas Committee report indicates the U.S. has approximately
2,000 trillion cubic feet of recoverable natural gas still in the ground - a
nearly 60 percent increase from estimates released four years ago. The
Committee is comprised of approximately 100 volunteers from industry,
governmental and academic institutions.
CAPP also sees the sustainability of Canadian natural gas in the North
American market, particularly in light of new technologies beginning to unlock
Canada's vast shale gas resources.
"Despite the tough economic conditions currently faced by natural gas
producers, the long-term outlook and resource potential remains strong and
reinforces Canada's role as the number one exporter of natural gas to the US
market," said David Collyer, President of the Canadian Association of
Horvath noted that technological advances continue to minimize the
environmental and ecological footprint of natural gas, important factors for
the long-term sustainability of the industry.
"The natural gas business employs an estimated 4 million Americans, both
directly and indirectly; and the positive impact of natural gas development
adds approximately $400 billion in annual economic value to the U.S. economy,"
Horvath said. "Additionally, about 83 percent of the natural gas used in the
U.S. today is produced domestically, and another 15 percent is imported from
our friends in Canada."
The Canadian Association of Petroleum Producers (CAPP) represents 150
companies that explore for, develop and produce natural gas, natural gas
liquids, crude oil, oil sands, and elemental sulphur throughout Canada. CAPP
member companies produce more than 95 per cent of Canada's natural gas and
crude oil. CAPP also has 130 associate members that provide a wide range of
services that support the upstream crude oil and natural gas industry.
Together, these members and associate members are an important part of a
$100-billion-a-year national industry that affects the livelihoods of more
than half a million Canadians.
For further information:
For further information: Media Contact Information: Travis Davies,
Canadian Association of Petroleum Producers: (P) (403) 454-3746; Jeff Schrade,
Natural Gas Supply Association: (P) (202) 326-9316