Yes, interesting article - I like the quote from the Gaz Metro spokesperson:

"The need for natural gas in the northeast is going to be extremely large. If you look at Ontario alone, the need to replace coal-fired generating plants is enormous, and oil will not be an option."

Industrial energy users in Quebec are also switching from dirty heavy oil to cleaner burning gas, she said. And the residential market continues to grow as consumers substitute gas for electricity in newly built homes.

Many skeptics have talked about a glut of NG from all the shale gas plays in NA. What they forget is NG is a very localized market in most cases because of transmission costs. The northeastern US seaboard and Quebec and Ontario according to Gaz Metro need all the new supply the SLL can provide (and then some). And the serious conversion from oil to NG has not even started yet.

With projected increases in NG prices heading into 2010, and the scaling back of production with the current recession and low prices, it continues to look good for QEC heading into production in 2010-2011.