Research facilitation and management for Newfoundland and Labradorís offshore industry
Subject Category: Other
End Date: Feb 2006
On February 8, 2006, the Canadian Energy Research Institute (CERI) and Petroleum Research NL held a half-day seminar in Dieppe, New Brunswick to release the results of a major study on the developments of Liquid Natural Gas (LNG) and the potential for Compressed Natural Gas (CNG) on the northeastern North American natural gas marketplace, the region’s pipeline system, natural gas pricing and benefits and opportunities for economic development.
The report examines how the proposed LNG projects in Nova Scotia, New Brunswick and Quebec, as well as CNG, will affect future natural gas markets in the Maritime Provinces, New England and beyond. It also evaluates changes required to the pipeline transportation system to deliver natural gas and the cost of transporting gas to the various markets.
It was concluded that LNG can be delivered to markets in the United States through regasification terminals in the Maritime Provinces and Quebec at a cost which is competitive with traditional gas supplies at current and expected future gas prices. For stranded offshore natural gas resources such as those on the Grand Banks, CNG is also becoming a competitive option for markets up to 2,500 miles away.