Natural gas Anticosti: a possible windfall of $ 650 million per year

sous-sol-ile-anticosti-recelerait(Quebec) The Anticosti Island would conceal the basement especially natural gas, not oil, but in such quantities that it could generate profits of $ 650 million over 75 years for the state.

This information appears in studies prepared for the government held consultations under the Strategic Environmental Assessment (SEA) for hydrocarbons on the island located in the Gulf of St. Lawrence.

It is fifty reports that were made public on Wednesday. The Ministry of Finance signs on “the financial evaluation, evaluation of economic benefits and possible development scenarios of the exploitation of hydrocarbons” in this island territory.

The analysis shows that exploration work suggests that it is at 77.5% of natural gas shale potential which would leave production wells. It would be for the rest of oil.

The estimated economic impact mentions that “fiscal and financial benefits, direct and indirect for the Quebec government [reach] at least $ 650 million on average per year.”

PQ’s projections in 2014

This figure joined the projections put forward the Premier Pauline Marois when it announced in February 2014 that his government would invest $ 115 million directly into the project. At the time, Philippe Couillard, then leader of the opposition was the risky adventure and argued that the PQ “plays the lottery with the money of Quebecers.”

The hydrocarbons issue is controversial. It has not been possible to obtain the comments of the Minister of Natural Resources. In impromptu press, Pierre Arcand did not want to comment if it is less damaging to the environment than the subsoil contains more natural gas than oil. “The case is complex,” and there will be public hearings, he noted.

The economic and energy data are “evolving”, he said. He would not comment on the potential impact of a into operation on Québec’s commitments on climate change. “With the carbon market, has he raised year after year, we have to reduce greenhouse gas [GHG].”

Minister David Heurtel (Environment and Sustainable Development) posted the same cautious attitude. “We are talking about a project that covers 50-75 years. It will really evaluate all the impacts on GHG exploitation. ”

He highlighted two elements to analyze “the impact of fracking in insular environment”; and “the whole question of water” drinking that is the subject of an inquiry in the report.

According to Finance, maximum exploitation of the deposit would create 2,000 jobs annually. A 6800 study estimated that wells should be drilled during the period of operation that would go to the end of the century. According to data disclosed on Anticosti deposit could provide alone than the whole consumption of natural gas in Quebec.

On Monday, The Sun revealed that Alexandre Gagnon, the CEO of Petrolia, Oil Anticosti partner with the Government, Corridor Resources and a French oil, favors bring natural gas by pipeline to the Gaspé to ​​then move towards Lévis. It would be possible to develop another pipeline to the North Shore.

A report released Wednesday says it would cost $ 4 billion for a pipeline, 900 km long, up to Lévis. The projections are based on the gas potential on a country 12 stratigraphic surveys, conducted over the past two years, an investment of approximately $ 60 million. A second phase is necessary and will depend on the results of the SEA.

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