A major annual event for the oil and gas industry in the Northwest Territories has been cancelled for 2015, thanks to an industry slowdown.

This year’s event attracted 400 delegates, says Inuvik Mayor Floyd Roland, but after the event, organizers learned that the Inuvialuit Development Corp. would not be sponsoring next year’s show.

“Numbers were holding on, but our fear is if we have one group pulling out, how many people will be following that?”

Roland says there have been signs for some time that the show was changing.

“We’ve noticed our trade show has changed from companies coming up and displaying what they can do in the North to a lot of our local guys… showing what they have available here.”

Organizers say they’ll be back in 2016 with a conference on Arctic energy and emerging technologies.

“We feel that it’s important to come back with something that is bigger, better and more relevant to our situation and the scenario that we face here in the North,” Roland says.

He says that while the focus will remain on oil and gas, the new show will also include a look at alternative energies.

The first Inuvik Petroleum Show was held in 2000 with the goal of bringing together industry, businesses and communities involved in the Mackenzie Gas pipeline.