Leveraging natural resources

Most of you know by now that there is a viable and proven supply of natural gas in the McCully field near Sussex. Gas from the field is already being used by the local potash facility.

But as is the case with most of New Brunswick’s natural resources, our strategy has been to get it to the US market as fast as we can with as little value add as we can.

But, Enterprise Fundy – based in Sussex- wants to take a novel approach – actually trying to generate some additional economic benefits from that gas field – beyond just the royalties that will go to the provincial government.

Here’s an excerpt from a recent CBC story:

An economic development group from Kings County is asking the province to support its plan for an energy park that would house a natural gas facility. Enterprise Fundy wants to build it in Sussex and power it with low-cost natural gas, which would come from the nearby McCully field being developed by Corridor Resources.

The economic development group hopes the natural gas facility would attract industries that require large amounts of energy.

“We see the natural gas being used in an energy park, in the Penobsquis area, basically over top of the resource itself, to reduce the costs,” said Brian Reed, chair of Enterprise Fundy.
Frank Tenhave, executive director of Enterprise Fundy, said the group needs the province’s help to get the energy park off the ground.

Bravo, folks. Bravo.