Prospects for the development of Canada's Arctic resources are looking better than they have in decades.According to the Canadian Association of Petroleum Producers(CAPP),approximately C2bn(1.73bn)has been spent in the last five years on seismic and drilling in an effort to prove up the immense natural gas reserves that lie beneath the frozen tundra.The reason can be summed up in one short phrase-the Mackenzie Gas Project(MGP).Since 2001,Imperial Oil,Shell and ConocoPhillips,owners of 5.8tn cf of proven gas reserves in the Mackenzie Delta(originally discovered in the 1970s),have spent almost C500mn(433.57mn)to promote a pipeline running 1,220 km south to the existing gas network in Alberta.
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