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(Saint-Hyacinthe) reserves of shale gas in Quebec can consider its export, according to the Ministry of Finance of Quebec, who gave a presentation yesterday at the Office of Public Hearings on the environment.

In his scenario, the Department expects that the annual drill 250 wells will exceed the needs of Quebec from the 7th year after the launch of the commercial phase of the industry.

"Eventually, it could increase domestic gas consumption, or you may choose to export," said Monty Luke, Assistant Deputy Minister of fiscal policy at the Ministry of Finance.

Mr. Monty said that Quebec would change its system of royalties on natural gas production along the lines of Alberta and British Columbia. In these provinces, the royalty rate varies with the price of gas.

With the current system of royalties, Quebec withdraw 230 million per year after 16 years, when production would approach 400 billion cubic feet, twice the current consumption.

The Ministry of Finance provides less job creation than the industry: 6100 jobs if the industry reaches the rate of 250 wells per year, against more than 8250 by industry in the study of Secor.

A spokesman for the industry, Hope Deveau-Henderson, said a study had shown that Pennsylvania's unemployment rate varied from county to county depending on the number of boreholes.

She added however that the breakeven gas Quebec was higher than that of other deposits: $ 5.20 to $ 5.40 per thousand cubic feet, as against less than $ 4 for the Marcellus field in Pennsylvania. The Ministry of Finance agrees with the industry it must consider the profitability of wells in the establishment of royalty rates.

But according to Scott Sobie, vice president of Talisman, these are very preliminary numbers. "Until now, our results are worse in Quebec than in the Marcellus," he said. The initial production rate is lower. But it is expected that this improves with experience. We said in our industry as our first wells are often our most my

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