British Columbia could become the leading province in natural gas investment over the next 24 years, according to a Conference Board of Canada report issued this morning.
The report states B.C. could be well ahead of Alberta in investments in the natural gas industry between 2012 and 2035, with a projected $181 billion flowing into the province. Total investments for the three westernmost provinces are projected to be $386 billion.
"British Columbia faces the challenge of developing on two fronts: unconventional shale gas production and infrastructure to support liquefied natural gas exports," said Len Coad, director, environment, energy and technology policy for the Conference Board of Canada.
The report states that although B.C. will receive more investment in natural gas, Alberta stands to gain the most in gross domestic product from the investment – an expected $153.6 billion inflow (using 2012 dollars). British Columbia is expected to gain more than $116 billion in GDP.
Over the 24-year period, the investment in natural gas in British Columbia is expected to lead to:
- 1.2 million person-years of employment; and
- more than $46 billion in total taxes for the province.
The conference board determined these numbers by looking at projected natural gas demand within Canada and for export as LNG to Asian and U.S. markets.
