According to a new survey by the National Energy Board (NEB, the energy regulator of Canada), the British Columbia Oil and Gas Commission, the Yukon Geological Survey, the Northwest Territories Geological Survey and the British Columbia Ministry of Natural Gas Development, the Liard Basin straddling British Columbia and Yukon in western Canada could hold one of the largest shale gas resources in the world.
The Liard Basin is expected to contain 219 Tcf (nearly 6,200 bcm) of marketable, unconventional natural gas, making it Canada’s second largest gas resource behind the Montney Formation (449 Tcf, i.e. 12,675 bcm) in British Columbia and Alberta. Based on an average consumption of 3.2 Tcf/year (90 bcm/year), the unconventional gas resources of the Liard Basin could cover more than 68 years of gas consumption in Canada.
Canada holds more than 850 Tcf (24,000 bcm) of remaining, marketable gas in areas already served by major pipeline systems. This is the equivalent of 267 years of supply based on Canada’s 2014 consumption rate.