Natural Gas & Oil
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A branch of economic geology, petroleum geoscience studies the origin, migration and accumulation of oil and gas, particularly for the discovery and development of profitable deposits.
The majority of subsurface petroleum and natural gas resources in British Columbia are owned by the Province. By entering into a tenure agreement with the Province, private industry can develop these resources.
Part of B.C.’s dedication to protecting the environment can be seen in the plans and strategies it has put in place for industries like natural gas and liquefied natural gas to thrive. Beyond economic prosperity and job creation, developing these industries will increase the use of energy sources that are better for the environment.
The Province collects royalties for oil and gas developments on Crown land. These help support British Columbia’s economic prosperity while ensuring that producers receive a fair return on their investments.
The Northeast is the only area of B.C. producing commercial quantities of oil and gas.
LNG is natural gas that’s been chilled to -160 degrees Celsius and turned into a liquid, which is safer and more efficient to transport oversees. B.C. is fortunate to have a large natural gas resource. Exporting LNG has the potential to earn tens of billions of dollars in tax revenue and create thousands of well-paying jobs for British Columbians.