Suncor suspends development in Montney Shale

It reports, the Calgary-based company has also ruled out liquefied natural gas as a potential moneymaker for the assets.

It is seen as yet another sign of weak North American markets for the fuel, despite the recent, eastern weather driven bump, in natural gas prices and it comes with major energy companies under pressure to focus spending and boost returns as rising costs threaten to squeeze margins.

Suncor has reportedly pulled the plug on early-stage delineation work in the Montney zone straddling the B.C.-Alberta border.

Estimated to hold 271 trillion cubic feet of gas just on this side of the border, what the Post describes, as the gas rich rock area, has been the subject of earlier industry predictions, suggesting it will anchor billions of dollars of new development in the coming decades.

The paper says that Suncor has made this move after assessing prospects for the play including potential partnerships tied to export terminals planned for the West Coast.

For B.C., the Post reports,  the decision underscores the degree, to which future prospects in the Montney, hinge, on tapping  the fast- growing, Asian Pacific markets.

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