Natural Gas Ministry Responds to Report Critical of LNG Pros

Natural Gas Ministry Responds to Report Critical of LNG Pros

Postby Oscar » Mon Jun 08, 2015 3:16 pm

Natural Gas Ministry Responds to Report Critical of LNG Prospects

[ http://thetyee.ca/News/2015/06/04/BC-LN ... ign=080615 ]

Analyst David Hughes found BC gas reserves inflated, revenues overstated.

By Andrew Nikiforuk, 4 Jun 2015, TheTyee.ca

British Columbia's Ministry of Natural Gas Development has responded to a critical report that challenges its numbers on the potential size, earnings, and environmental impacts of the proposed liquefied natural gas industry in the province.

Last week, the Canadian Centre for Policy Alternatives released a report by energy analyst David Hughes that characterized government numbers on recoverable gas as inflated and unlikely.
[ http://thetyee.ca/News/2015/05/26/Hughe ... as-Report/ ]

"There's two things I don't believe any more. Polls, and anything written by the Canadian Centre for Policy Alternatives," Natural Gas Minister Rich Coleman reportedly said in response to the report. [ http://globalnews.ca/news/2018762/new-r ... nt-claims/ ]

"It's one of those reports you read and say fine... but I'm not going to buy any of this, because I know what [the] facts are, I know what our research is, and I know from sitting down with the companies that have been drilling what the pressure of the wells are, what they're going to have production-wise going forward in the next 10 to 25 years."

The Hughes report argued that the government's claim of a natural gas supply of 2,933 trillion cubic feet (Tcf) was not credible, given that the BC Oil and Gas Commission places B.C.'s proven reserves at 42.3 Tcf, with a total "marketable resource" (or what industry might be able to find, drill and frack) of 442 Tcf.

Reserves are a proven quantity based on drilling data, while resources remain a speculative number.

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[ http://thetyee.ca/News/2015/06/04/BC-LN ... ign=080615 ]
Oscar
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