The outlook for Canada’s natural gas exploration and production industry will remain weak over the next several years as boosted US production, high North American stock levels and low prices continue to weigh on the profitability of the industry, the Conference Board of Canada said Tuesday. The dramatic rise in US shale gas production in the last several years, particularly in the Appalachian Basin’s Marcellus and Utica Shale plays has led to a decreased demand for imports of gas from Canada, said Michael Shaw, a CBC economist and co-author of a board study. “I think the US natural gas industry is going to do quite well,” Shaw said in an interview. “I think that it doing so well it is going to push out Canadian imports and really hurt the Canadian industry.” Canadian gas production, which last year averaged about 14.7 Bcf/d, can be […]