Natural gas decline not a worry for Canadians

A decline in natural gas supplies does not necessarily mean a lack of natural gas for Canadians.

That’s according to the National Energy Board after it conducted a recent energy market assessment, which states that factors surrounding current market conditions are causing a decline in the amount of natural gas production.

The assessment shows over supply in both Canada and the U.S. and the fact that producers are shifting away from natural gas drilling.

Part of the reason for the oversupply is an increase in U.S. drilling numbers, creating a surplus of natural gas in both countries and driving down natural gas prices.

However, some Canadian companies have begun pursuing other revenue sources, including oil and natural gas liquids.