Canada is the world’s 52nd-largest producer of natural gas and the country’s output increased by 5% in 2023, over 2022. The country accounts for 4% of global production, with the world’s other largest producers being the US, Russia and Iran. GlobalData uses proprietary data and analytics to provide a complete picture of the natural gas sector in Canada in its report, Canada Exploration & Production, 2022. Buy the report here.
Over the five years to 2023, production from Canada increased by a CAGR of 0.01% and is expected to rise by a CAGR of 1% between 2024 and 2028.
The largest producers of natural gas in Canada are Tourmaline Oil, Canadian Natural Resources and ARC Resources. Tourmaline Oil was the largest producer of natural gas in 2023 with output up by 13% on 2022.
Canadian Natural Resources was the second-largest producer, with output up by 3%, and ARC Resources was third with an increase of 5% on the previous year.
There are 70 natural gas producing fields in Canada, all located onshore. The Alberta has the majority of the natural gas fields in the country with 40.
Role of natural gas in the energy transition
Natural gas plays a pivotal role in the global energy transition, serving as a transition fuel towards decarbonisation. As countries navigate the shift from fossil fuels to renewable energy sources, natural gas provides a lower-carbon alternative, aiding in reducing emissions and delivering reliable energy given the fluctuating availability of wind and solar power. Its versatility and abundance make it a key component in the evolving energy mix.
For more detailed analysis of natural gas sector in Canada, buy the report here.
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