B.C.'s Natural Resource Sector Surpasses Expectations Amid Obstacles

British Columbia's natural resource sector has made significant progress in building new LNG projects and completing oil pipelines, despite facing numerous obstacles. The completion of the Trans Mountain pipeline expansion and the LNG Canada project has helped diversify Canada's energy exports.

The province's investment in oil and gas production nearly tripled from $2 billion to almost $6 billion between 2015 and 2024, enabling a 92.5% increase in oil and gas output during that period. Natural gas led the way, with B.C. accounting for 37.5% of Canada's output in 2026.

According to Philip Cross, the completion of these projects has already helped diversify Canada's energy exports, with total exports to Asia rising 15.9% and those to countries other than the U.S. increasing by 33.5%. Energy exports to China more than tripled from $3.2 billion in 2023 to $9.7 billion in 2025.

While there's still room for Canada to diversify its oil and gas exports, European nations are looking for non-U.S., non-Middle East energy supplies, creating opportunities for B.C. to expand its market share.