Suncor suspends B.C. shale gas work, FP reports

Suncor (SU +0.2%) has quietly suspended plans to develop shale gas properties in British Columbia, Financial Post reports, in another sign of weak North American markets for gas despite a recent bump in prices.

SU is stopping early-stage delineation work in B.C.'s Montney zone after assessing prospects for the play including potential partnerships tied to export terminals planned for Canada's west coast.

SU's ~176K Montney acres may hold as much as 8T cf of prospective resources, but the timing isn't right to tap them; further development in the region is halted pending "a change in market supply and demand fundamentals."

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