National Energy Board releases 1994 annual report. Part 1

The 1994 Annual Report of the National Energy Board, has been tabled in Parliament. The report reviews the Board's major regulatory and advisory activities, including decisions taken on natural gas, oil and electricity exports, pipeline construction, toils and tariffs and certain frontier activities. It also provides an overview of the energy situation in Canada. In its overview, the Board shows that Canadian exports of natural gas, petroleum and electricity increased by 6.9% from 1993 to 1994. Natural gas exports were up 13%, crude oil 7% and electricity 52%. The value of these exports is estimated to be $17.0 billion in 1994 compared with $15.4 billion in 1993. The Canadian energy sector play an important role in the Canadian economy. In 1994, the Canadian energy sector represented about seven percent (approximately $20 billion) of total Canadian exports. 3 tabs