James Stevenson

Canada’s known natural gas reserves continue to decline even though a record number of wells were drilled in 2003, the energy industry announced Thursday.

Canada’s known natural gas reserves continue to decline even though a record number of wells were drilled in 2003, the energy industry announced Thursday.

Pipeline and power company TransCanada Corp. plans to band together with international energy giant Royal Dutch/Shell Group to build a $700 million (U.S.) liquefied natural gas terminal off the coast of New York state.

Two of Canada’s major oilsands producers are facing lower production targets this year due to unplanned maintenance at their huge open-pit mining operations in northern Alberta.

California-based Pacific Energy Partners L.P. plans to transform its two newly purchased regional pipeline systems in Alberta into a mainline to ship growing quantities of oilsands crude to refineries throughout the western United States.

Northern Alberta’s oilsands are expected to more than double production to 2.2 million barrels per day by 2015 and boost Canada’s standing as a major oil producer, but it will likely do little to meet the world’s growing energy demands.