Canada's Natural Gas and Oil Sector Investment on the Rise
The Canadian Association of Petroleum Producers (CAPP) is forecasting a 22% increase in investment in 2022.
Edited by Margo Ellis
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Capital spending in the sector is expected to grow by $6.0 billion to reach $32.8 billion, compared to an estimated total investment of $26.9 billion in 2021 (in Canadian dollars).
The expected growth in spending for 2022 would mark the second straight year of significant increases in investment as Canadian producers look to capitalize on stronger commodity prices due to rapidly growing global demand for natural gas and oil.
Conventional oil and natural gas capital investment for 2022 is forecast at $21.2 billion, up from an estimated $18.1 billion last year, while growth in oil sands investment is expected to increase 33 per cent to $11.6 billion compared to $8.7 billion last year. The full detailed article and regional review is here.
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