Montney Natural Gas Formation Poised for Explosive Growth
The Montney natural gas formation in British Columbia and Alberta is a massive reserve, spanning an area of approximately 130,000 km², roughly two-thirds the size of New Brunswick and Nova Scotia combined. The formation has been dubbed 'British Columbia's economic crown jewel' by Stewart Muir, founder and CEO of Resource Works.
The Montney play is experiencing rapid expansion, with projections suggesting up to 32,000 new wells could be drilled by 2050 to support liquefied natural gas (LNG) exports. The formation has the potential to produce a total of 449 trillion cubic feet of natural gas with modern technology.
A new outlook from the Canada Energy Regulator sees Canadian natural-gas output growing by 47 per cent by 2050, driven by LNG exports. This growth could hit as much as 75 per cent, with production increasing to 32 billion cubic feet a day (Bcf/d) in 2050.