B.C. natural gas industry to stay hot in 2011
Last Updated: Monday, December 27, 2010 | 2:02 PM PT
The Canadian Press
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Despite a global decline in the price of natural gas, the B.C. government says the province is likely to reap the benefits of having one of the largest deposits in North America.
The Ministry of Energy said in the coming years it expects that Asian markets will continue to demand more of the hot provincial resource.
Drilling activity in B.C. jumped more than 10 per cent over the past year, while provincial reserves now count for more than 30 per cent of the total in Canada.
By the end of the fiscal year, natural gas production is forecast to reach 1.14 trillion cubic feet — or more than 13 million Olympic-sized swimming pools.
Revenue is projected at $1.38 billion, which the ministry said has fuelled the province's economic recovery.
The ministry said the industry continues to create jobs and generate infrastructure development.
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