Presented at Joint GPA Europe / GPA GCC Annual Conference held in Athens, 21 - 23 September 2016 by

Presented at Joint GPA Europe / GPA GCC Annual Conference held in Athens, 21 - 23 September 2016 by
Greg Bury, Vice President – Business Development , Canadian Operations, Univeral Pegasus International
Abstract:
Canada has one of the largest natural gas reserves in the world and has been processing gas since the early 1900’s. Traditionally our primary market was the United States and for decades we have sent the bulk of our natural gas to that market. Through the discovery of shale oil & gas the North American market has changed dramatically and now the USA doesn’t rely on our natural gas from Canada the way it used to. In 2005 Canada was exporting slightly less than 9 BCF/day to the USA. In 2015 we exported slightly less than 6 BCF/day and it is projected by 2025 that we will export less than 4 BCF/day to the United States. Considering that Canada produces about 15 BCF/day this is a substantial problem for our gas industry in Canada. The obvious solution is the LNG export industry and the development of other customers.
So Canada and the related natural gas industry must now make dramatic changes to the way that we do business to take advantage of our world class resource. My paper will look at these challenges and opportunities.