Producers - Encana Leads
Natural Gas Powerhouse
Encana Corporation ranks among the largest natural gas producers in North America. The company focuses on natural gas exploration and the development of resource plays with activities in central and Southern Alberta, British Columbia, and in several states. Its portfolio includes 12.8 trillion cubic feet equivalent of proven gas reserves and 3.0 billion cubic feet per day of natural gas production. Encana aims to double its natural gas production per share over the next five years.
Encana was one of only five Canadian companies recently recognized as one of the 100 most sustainable large companies in the world by Corporate Knights magazine and research firm Innovest Strategic Value Advisors. This achievement was based on the company’s investments in renewable energy as well as its environmental and financial performance.
Building New Markets for Natural Gas
The outlook for natural gas in North America points to a growing resource base and abundant supply with an estimated 100 years of natural gas available at current levels of demand. Advances in drilling technologies now allow for the cost effective extraction of unconventional sources of natural gas such as coal bed methane and shale gas. Given the supply outlook, pricing below what it was a decade ago, and the lower carbon nature of natural gas, Encana is working to ensure that natural gas is recognized as an important foundation of both the United States’ and Canada’s sustainable energy future.
Transportation and power generation are both potential markets where the affordability and lower emission profile of natural gas can offer significant advantages. Encana is working in partnership with various stakeholders including governments and fleet owners to develop new markets for natural gas at both the local and regional levels. The company actively works with the CNGVA to promote the use of natural gas as a lower carbon transportation fuel.
Corporate Fleet Leadership
Encana is also integrating natural gas vehicles into its own corporate fleet as a way to reduce emissions, lower fuel costs, and lead by example. By the end of 2010, the company expects to have 150 of its fleet vehicles operating on compressed natural gas with three private onsite refuelling stations in Western Canada as well as two stations in the United States. It is also exploring opportunities to partner with other producers on vehicle refuelling sites so as to create regional refuelling hubs. Encana continues to work within the upstream natural gas production industry to highlight the potential role of natural gas within the transportation sector.