Marketable gas in place estimated at between 700 and 1300 TCF
CALGARY, May 12 /CNW/ - The Canadian Society for Unconventional Gas (CSUG) released a report today that concludes Canada's natural gas in place resource is almost 4000 TCF. The report includes both conventional and unconventional resources and estimates the marketable portion at between 700 and 1300 TCF.
"This report highlights our country's strength in the resource and that natural gas will be a key foundation in Canada's energy future," explained Mike Dawson, President of CSUG. "Based on current annual natural gas production rates of between 5 and 6 TCF, this report demonstrates that Canada has a natural gas resource to last more than 100 years."
To date, resource estimates have been from a wide variety of sources. CSUG commissioned a gas in place report to generate an accounting of the natural gas potential in Canada that includes the large contribution unconventional resources make to the total. The results of this study formed the foundation for CSUG's estimate of Canada's marketable gas potential.
"There is a lot of good data out there but we felt it important to assess it, filter out any inconsistencies and generate a comprehensive estimate of the natural gas resource," said Dawson. "Businesses can use this information in their long-term decisions knowing they have access to a reliable and abundant energy source and Government can factor this growing resource into Canada's energy future."
In addition to establishing the wealth of natural gas in the country, the report also illustrates that natural gas can be found from coast to coast.
"The natural gas industry is a significant contributor to the Canadian economy. With natural gas demand increasing in our country and around the world, our abundant supply positions all regions to benefit from responsible natural gas development," said Dawson.
More information can be found at www.csug.ca.
SOURCE CANADIAN SOCIETY FOR UNCONVENTIONAL GAS
For further information: For further information: Kevin Heffernan, Vice President, Canadian Society for Unconventional Gas, Phone: (403) 233-9298 ext. 229