Canada’s natural gas output is set to top 25 billion cubic feet per day by the end of 2029 and will remain at or around the same level for another 10 years, according to a newly released study from the Canadian Energy Research Institute (CERI). The study, which covers oil and gas during the 2019-2039 period, predicts that most of the additional production will go to the domestic market and new LNG export terminals.
On the domestic front, the home market is likely to see gas demand climb by 2.5 billion cubic feet per day by the end of 2039. The power-generating sector will account for fully 47% of this growth, while industrial users and oil sands producers will make up another 35%, CERI said.
With respect to exports, the institute forecasts that Canadian gas shipments to the US will continue to decline. At the same time, though, other foreign markets will open up via the launch of new gas liquefaction facilities on the west coast.
LNG plants markets are set to absorb 30% of the country’s total gas production by the end of 2039, CERI added.