One conference excerpt
posted on
Oct 21, 2009 05:20PM
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Here are the conference opening comments from Andre Caille. I haven't heard from QEC yet about Michael Binnions presentation. (Google translation - sometimes a little rough)
Quebec is well positioned in North America to become a leader in the natural gas industry and could even become a producer of the resource "within two years."
It is believed that the ex-CEO of Hydro-Quebec now president of the oil and gas, André Caillé, in an interview today with Silver.
"Currently, companies are at the stage of exploration. But I would say that in two years, Quebec could produce natural gas. And depending on investment, but it could also happen before, "he says.
So far, the association has invested $ 150 million in various projects in Quebec. According to Mr. Caillé, these investments could raise $ 350 million in the coming months. Quebec will invest $ 4 million in the next two years in a program of geoscience knowledge.
"In a conference as we wish to present, we have 300 participants from all over, Norway, the United States of France. We particularly want to combine business here and elsewhere. It encourages them to invest here, "says Mr. Curd.
Currently, a gas exploration company Junex as a partnership with American Forest Oil - a heavyweight in the field - to develop projects.
For several months, the exploration of gas shale occurs particularly in the St Lawrence. The investment increases so that the Quebec government announced Monday a new bill that will replace the current Mining Act and Public Lands.
According to the government for a year and a half, the province issued 575 operating license which ensures that the department is not enough demand.
According to André Caillé, Quebec could very well succeed at the game in the coming years in a context where natural gas production will increase in North America.
"Our deposits are as important as those in the United States. You know, the gas market is continental, we use the pipeline system to transport the resource. So the potential is important, "he believes.
Not the best context for Rabaska
While the present context meant that natural gas prices remain low in North America. What is shadowing projects LNG ports on the continent.
Without going too far, Mr. Caille noted however that the proposed LNG port Rabaska suburb of Quebec comes in a context which is difficult as the price of natural gas in Europe is much higher than here.
"I do not know the timing of Gaz Metro (Editor's note: Quebec promoter Rabaska terminal), but it sure is certain that in two years is not the same situation," says he .
In the same breath, he asserts that the natural gas industry "has the wind in the sails." "It is a clean energy that will particularly serve to reduce coal use in North America," says he.
But all these new projects will make everyone happy. Le Devoir reported today that the three MRC Sorel, Bécancour and Nicolet-Yamaska situated in the Montérégie and the Heart-du-Québec are now common front for the right to protect their groundwater at a gas exploration .