When most Canadians think of our oil and natural gas sector, we think of a pumpjack in a field in Alberta or Saskatchewan. But it’s more than that—so much more. Canada’s energy industry is the engine of our nation’s economy, providing jobs, reliable energy, while supporting our national security and sovereignty.
The industry encompasses thousands of kilometres of pipelines and hundreds of facilities, many of which stand as remarkable feats of engineering and human innovation. It is not just an energy sector—it’s also a cutting-edge technology sector. Our prolific resource base has the potential to generate revenue for healthcare, education, and other services for many decades, all supported by Canada’s world-class technical expertise, favourable geological conditions, and skilled construction workforce.
Businesses and investors can build on the foundation of Canada’s oil and natural gas sector. We can support major projects such as petrochemical plants, liquefied natural gas (LNG) facilities, and data centres, and emissions abatement projects like carbon capture, utilization and storage (CCUS) centres.
We’ve been building—and we can build more
In Canada, over $26 billion worth of oil and gas-related major projects are currently under construction, with an additional $101 billion in the planning stages. These projects create thousands of well-paying construction and support jobs nationwide, from St. John’s, Newfoundland, to Kitimat, British Columbia. These jobs rank among the highest paying in the country, providing Canadians with opportunities to prosper and secure futures for their families.
British Columbia and Alberta host most of Canada’s oil and gas investments, with Saskatchewan and Newfoundland also contributing significantly. The largest private investment in Canadian history—LNG Canada—is near operation on Canada’s West Coast. It will position Canada as a key exporter of LNG. This achievement deserves celebration, but it also highlights Canada’s untapped potential as an energy superpower. Canada has a unique opportunity to further expand its LNG sector and establish itself as a global supply leader, helping meet growing energy demands worldwide.
During tough economic times, Canada can build on oil and natural gas
Unfortunately, Canada’s economy continues to languish. The OECD predicts Canada will rank last among its member nations in GDP growth per capita by 2060. However, this outcome isn’t inevitable—we have the tools and the talent to change that future, with the oil and natural gas sector leading the charge.
Already one of Canada’s largest economic drivers, oil and natural gas contributed nearly $72 billion to GDP in 2023. When factoring in complementary and supporting industries—such as pipelines, refineries, electricity, and petrochemicals—that contribution surpasses $120 billion.
By continuing to develop our oil and gas resources and expanding associated industries, Canada has the potential to significantly boost GDP and secure long-term economic growth.
We can play to our strengths
Building on our oil and natural gas sector just makes sense.
Canada is the fourth-largest oil and fifth-largest natural gas producer in the world. Oil and natural gas are already Canada’s largest export, making up nearly 25% of our national total.
As one of the few countries that produces more energy than we use, we are well positioned to be a reliable, stable provider to the world—and by building on our oil and gas sector we can produce more LNG, petrochemicals, and many more in-demand products. Let’s use our skilled workforce and large resource base to get Canadian projects built.
Today, tomorrow, and for decades to come
Global demand for oil and natural gas remains robust, with many nations striving for access to secure supplies. Canada is well-positioned to meet this demand with its oil, natural gas, and associated products. Projections indicate that oil demand will hover near 100 million barrels per day (mm/bpd) through 2040, while natural gas demand is expected to reach nearly 4,300 billion cubic metres (bcm) annually.
These facts represent a generational opportunity for Canada to build on its resources and solidify its role as a global energy leader. Canadians are increasingly on board, with most of the population recognizing energy security, economic resilience, and climate leadership as deeply interconnected issues.
Canadians support a strong energy future
Canadians are increasingly thinking about our national and economic security, and they recognize energy security is a critical component of Canada’s future prosperity. A poll conducted in February 2025, reports that nearly nine in ten Canadians say oil and gas are important to Canada’s current economy, marking the highest level of support since tracking began in 2020.
What’s more, 70% believe oil and gas will continue to be important to Canada’s future economy.
This isn’t just about today’s energy needs. Canadians increasingly see oil and gas as a bridge to a more stable global energy landscape, and two-thirds agree that Canada should expand oil and gas exports to improve global energy security.
Global demand for oil and natural gas remains strong, currently accounting for 55% of the world’s primary energy consumption, with demand steadily increasing since 2012. This trend is expected to continue in the years ahead. The International Energy Agency forecasts oil demand will remain around 100 million barrels per day for the next decade. Similarly, natural gas demand is projected to stay robust, with annual consumption expected to surpass or remain near 4,100 billion cubic metres for decades to come. This represents a significant opportunity for Canada. As long as the world needs oil and natural gas, Canada should not only help meet that demand—we should do so on a much larger scale.
Oil and natural gas builds communities
The impact of Canada’s oil and natural gas industry is felt from coast to coast. The sector directly and indirectly employs nearly 450,000 Canadians (900,000 when induced jobs are included), supporting communities as diverse as Kindersley, Lloydminster, Bay Roberts, and Dawson Creek, where it provides high-quality jobs. As the industry continues to grow and evolve, Canada has the opportunity to create even more jobs, further strengthening the communities that rely on oil and natural gas for their economic well-being.
B.C. Builds on natural gas
B.C.’s natural gas is a key pillar of Canada’s oil and gas sector. From local businesses to global markets, the sector drives economic growth at every level and delivers tangible benefits for communities, including:
- Employing approximately 68,000 British Columbians
- Contributing $14 billion to B.C.’s GDP in 2024, which is equal to 20% of GDP from all goods-producing industries (one in every $25 in the province)
- Procuring $6.1 billion in 2022-2024 with 2,250 B.C.–based oil and gas supply chain vendors across ~120 municipalities ($832 million with Indigenous-affiliated vendors)
- Learn more about how Canada builds on B.C. natural gas here.
Newfoundland and Labrador builds on oil
Newfoundland and Labrador are a significant part of Canada’s oil sector—and have a real opportunity to grow even further. Currently, oil is the province’s largest industry and delivers substantial benefits, including:
- As of the end of 2022, the offshore industry directly employed more than 4,000 people and indirectly employed thousands more.
- In 2023, an estimated $1.6 billion in capital investment was spent in the offshore industry in Newfoundland and Labrador.
- Offshore royalties account for 15% of the Government of Newfoundland and Labrador’s budget, or $1 in every $7 government spends.
Learn more about what the offshore sector means to communities here.
Oil and natural gas helps build Indigenous prosperity
The oil and natural gas industry works with Indigenous communities, organizations, and businesses to foster meaningful engagement and share the economic benefits of development. These efforts include consultation, purchasing goods and services, equity partnerships, capacity funding for consultation, business agreements, community investments, training and skills development, and employment opportunities.
As Canada’s oil and natural gas sector grows, this relationship can continue to strengthen. To date, a number of remarkable Indigenous-led and partnered oil and natural gas projects have already reached fruition. Moving forward, we must continue to expand these partnerships and build on this shared economic success.
Major projects
LNG Canada, Coastal GasLink, and the Trans Mountain Expansion are just a few examples of the major projects Canada has successfully developed—and they represent only a fraction of what’s possible. Canada possesses the reserves, technology, and skilled workforce to accomplish much more. We have the potential to expand our LNG export capacity, continue building a world-class petrochemical industry—including projects such as Dow Chemical’s Fort Saskatchewan Path2Zero expansion project—and establish ourselves as a global leader in carbon capture. With billions in CCUS projects planned to capture nearly 23 million tons of CO2, this is a generational opportunity for Canada to lead the way in both energy production and emissions reductions.
Canada’s mix of skilled workers, abundant resources, and growing global demand puts us in a strong position to lead in building large, in-demand projects.
Bay du Nord figures are 2022 figures; project being reshaped following 2023 postponement