Developing the Horn River Basin to facilitate liquid natural gas exports will mean “substantial” benefits for B.C., according to a Canadian Energy Research Institute study published yesterday.
The report, Pacific Access Part III: Economic impacts of exporting Horn River natural gas to Asia as LNG, suggested that developing B.C.’s Horn River Basin for natural gas exports will yield a total of 834,000 person-years’ worth of employment in Canada between 2010 and 2035. More than 92% of that employment (768,000 person-years) will be in B.C.
The gross domestic product from exploiting natural gas in the region would be $1.16 trillion within that time frame, the report noted. It added that virtually all of that would be in B.C.
The report also noted that natural gas will continue to be the fuel of choice in Asia, thereby creating a long-term potential market for shale gas production in Canada.
