Commodities
Canada's Energy Outlook: LNG Exports Set for Significant Growth
The Canada Energy Regulator has released a new outlook that forecasts significant growth in the country's natural gas use, driven by liquefied natural gas (LNG) exports. According to the regulator, LNG exports could increase by as much as 75% by 2050.
The report also predicts that crude oil production will rise by 6.5-11% by 2030, while natural-gas production is expected to grow from a record high of 18.3 billion cubic feet per day in 2024 to 21-32 Bcf/d in 2050.
Despite the positive outlook, TC Energy CEO François Poirier has expressed concerns about the speed of Canada's energy project approvals, stating that the current process is too slow and not competitive with international standards.