There was a recent whirlwind of news articles last week about the future of the natural gas industry in Canada. What was all the fuss? Projections are that Canada’s natural gas industry could add more than a trillion dollars to the Canadian economy over the coming decades.
Is this possible? With the industry already producing 24.5 billion a year, and employing upwards of 130,000 people, the industry certainly has a pretty good start, making up 42% of Canada’s energy exports. Factor in that expectations are demand for natural gas could as much as double between now and 2035, and the bold projection above begin to make some sense.
This is exciting, given that we’ll see employment in the industry increase dramatically, supporting as many as 260,000 jobs, much of which will land here in Alberta, as well as BC.
Looking at a 24 year horizon, it’s possible that after many years of mostly flat pricing, natural gas is set to take off, rivaling that of the oil sands, becoming a major powerhouse behind Canada’s national economy.
You can read more on these bold market projections here: