Hurried pursuit of a liquefied natural gas windfall in B.C. and Alberta will squander a key component of Canada’s long-term energy security while causing environmental devastation, according to a new report.

Scaling up LNG exports from fracking in the Montney basin that straddles the two provinces almost certainly will jeopardize local water resources, species habitat and the country’s struggling effort to meet climate targets.

And there could be another cost down the road: “The current policy of exploiting the Montney as fast as possible for LNG exports may create risks that gas will be unavailable for other uses in the future.”

This, according to energy analyst David Hughes, author of a comprehensive report called “Drilling into the Montney,” released June 24 by the David Suzuki Foundation.

“The Montney represents Canada’s largest remaining accessible gas resource and is forecast to provide a significant portion of future gas production with or without LNG,” Hughes told The Tyee. “Conventional production from mature gas fields in Canada has declined sharply over the past couple of decades.”

“Production has been made up by unconventional plays like the Montney which can only be accessed with the technology of hydraulic fracking and horizontal drilling. And those technologies come with significant environmental impacts in terms of climate change, water consumption, biodiversity loss and land disturbance.”

The Montney basin is an oval-shaped, 96,000-square-kilometre geological formation that stretches on a southeast diagonal from Fort Nelson, B.C., at its top and includes the territories of Treaty 8 First Nations. The Montney currently produces 10 billion cubic feet of methane per day or roughly half of Canada’s total.