Key facts
- Studies estimate the Jeanne d'Arc Basin off Newfoundland holds 27.6 trillion cubic feet of recoverable natural gas.
- A second phase of assessment identified an additional 10.2 to 25.5 trillion cubic feet in adjacent and unlicensed areas.
- The first study estimated 8.1 to 11.3 trillion cubic feet of natural gas within existing licences.
- The Newfoundland and Labrador government released the second phase of its resource assessment on June 1.
Two studies of the Jeanne d'Arc Basin, an ocean zone off Newfoundland, have estimated a significant natural gas bounty. The first study, assessing resources within existing discovery and production licences, estimated between 8.1 to 11.3 trillion cubic feet (tcf) of recoverable natural gas. The second phase, released by the Newfoundland and Labrador government on June 1, identified an additional 10.2 to 25.5 tcf in adjacent and unlicensed areas. Combined, the best estimate for recoverable natural gas in the basin is approximately 27.6 tcf. This discovery could position Newfoundland and Labrador as a major player in the natural gas sector, with potential advantages for shipping liquefied natural gas (LNG) to Europe due to proximity. However, the development of these resources is subject to complex political, regulatory, and economic considerations.