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Shale study finds opportunities for NB

June 10th, 2013 (Fredericton, NB) – A study by Deloitte, delivered to Future NB and the New Brunswick Business Council has identified opportunities for NB companies to participate in the shale gas development supply chain.

Members of the New Brunswick Business Council have been learning about shale gas development for nearly two years. “During this time there hasn’t been clear information about the opportunity for businesses in New Brunswick, should the industry move ahead,” said Francis McGuire, chair of the NB Business Council and Future NB steering committee chair. “We wanted to improve our own understanding, and share it with New Brunswickers to help advance our collective knowledge on this important subject.”

Click here to download and read the report.

After 4 months of work that included industry interviews, surveying, analysis and significant leveraging of Deloitte’s expertise from Calgary and the United States, the findings were presented in late May. In summary:

  1. There are interesting opportunities for NB business to participate in the shale gas development supply chain.
  2. The estimated development opportunity is $13 million per well, with 206 people required to develop one well.
  3. Industries with strong opportunities include equipment rental, transportation, professional services (such as environmental approvals, surveying, permitting, etc), casing, cementation, and pipeline installation.
  4. NB companies should consider preparing their businesses with certifications, understanding of the contracting process, relationship development and experience as this is a highly competitive, global supply chain.
  5. Industry, government and our post-secondary institutions should come together to evaluate the significant workforce implications of this industry’s development.

“I was encouraged to see that there are clear opportunities for New Brunswick businesses in the shale gas supply chain,” said Andrea Feunekes, Chair of Future NB. “It’s also helpful to learn that while some NB businesses have started planning for this industry’s development, most businesses surveyed have not yet taken steps to learn about it.” Susan Holt, CEO of the Business Council, says that’s where her organization can help. “If there are industry associations and business groups interested in learning more about the study’s findings, we’d love to meet with them. ”

Serge Doucet, President of Future NB adds “Even if shale gas development timelines are a moving target, supply chain plans need to start now for businesses to be ready to capitalize on the opportunities.”

The Deloitte report will also be made available via the Future NB and NB Business Council websites.

About the NBBC
The New Brunswick Business Council is a non-partisan group of leaders who have demonstrated a commitment to New Brunswick’s economic growth and community development. Our members have a deep, personal stake in this Province and its future. Through a combination of economic and social initiatives, the Council strives to make New Brunswick the best place to start and grow a business in Canada.

About Future NB
Future NB is a business-led, volunteer initiative that is dedicated to accelerating growth in the private sector economy. Future NB leads by example and works through existing organizations as an enabler to achieve its goals. Members of the board comprise a highly accomplished cross-section of stakeholders who can directly intervene to help remove barriers to private sector growth in high potential economic sectors.

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Contacts

Susan Holt, NBBC President & CEO, susan.holt@nbbc-cenb.ca
office (506) 444-8919, mobile (506) 238-0583

OR

Serge Doucet, President of FutureNB, serge@futurenbavenir.ca
office (506) 444-8934, mobile (506) 476-6717

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