CALGARY, April 19, 2012 /CNW/ - The high value of natural gas liquids (NGLs) products that can be recovered while producing natural gas, is encouraging companies to seek out deposits rich in these compounds as opposed to dry gas plays, says a recent energy market assessment (EMA) from the National Energy Board (NEB or Board). NGLs include such compounds as propane, butane and pentanes plus.
In the report, Short-term Canadian Natural Gas Deliverability 2012-2014, the NEB examines trends for natural gas deliverability in Canada (the ability to produce natural gas from new and existing wells).
This report includes lower, mid and high range price cases for natural gas based on varying market factors. The mid-range price case expects natural gas deliverability to decrease from 410 106m3/d (14.5 Bcf/d) in 2012 to 373 106m3/d (13.2 Bcf/d) in 2014.
The Board projects annual Canadian natural gas demand to grow by 17 106m3/day (0.6 Bcf/d) between 2012 and 2014. Most of this increase in natural gas demand would be from increased usage for oil sands development in Alberta.
The NEB is an independent federal regulator of several parts of Canada's energy industry. Its purpose is to regulate pipelines, energy development and trade in the Canadian public interest. As part of its mandate, the NEB monitors the supply of all energy commodities in Canada and reports its findings. The NEB Internet site is regularly updated with new energy information for the Canadian public.
This news release is available on the NEB's Internet site at www.neb-one.gc.ca under What's New!
Rebecca Taylor ([email protected])
Communications Officer
Telephone: 403-299-3371
TTY (teletype): 1-800-632-1663
Erin Dottor ([email protected])
Communications Officer
Telephone: 403-299-3712
TTY (teletype): 1-800-632-1663
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