The Energy Landscape in Canada: Challenges and Opportunities (2024)
Canada's energy market thrives on oil, natural gas, and hydropower, with a focus on net-zero goals and carbon pricing. LNG exports present significant opportunities for growth.
A Resource-Rich Market
Canada’s energy market is shaped by its vast natural resources, particularly oil, natural gas, and hydropower. Provinces like Alberta and British Columbia are major producers of oil and natural gas, while Quebec and Ontario lead in hydropower.
Carbon Pricing and Net-Zero Goals
Canada’s commitment to reaching net-zero emissions by 2050 means the energy sector faces both challenges and opportunities. The country’s carbon pricing strategy will play a key role in shaping how businesses navigate this transition.
The Role of LNG Exports
Liquefied natural gas (LNG) exports, especially through projects like LNG Canada, are a major opportunity for Canada’s energy market. As global demand for LNG grows, Canada is well-positioned to become a leading supplier, particularly to Asian markets