BC natural gas reserves inflated, revenues overstated, report finds

A new report on liquefied natural gas prospects for British Columbia challenges government claims that gas exports will lower greenhouse gas emissions, or generate $100 billion in profits for the province.

The report published today by David Hughes, one of Canada's foremost energy analysts and a former federal government geoscientist, also contends that the provincial government has vastly overestimated the amount of gas available for export.

The National Energy Board has approved 12 export licences to Asia or the United States with another seven under review along the B.C. coast.* The provincial government, which has lowered taxes and royalties to promote the new industry, expects only three to five terminals may be eventually built.

Due to depressed oil prices, global competition and cost over-runs in the capital intensive industry, not one project has yet announced a final investment decision yet.

Complete report: https://www.policyalternatives.ca/publications/reports/clear-look-bc-lng