It’s a gas
Gas production in Alberta in 2023
By Rob Roach, ATB Economics 7 February 2024 1 min read
It’s not like it was in the mid-2000s when Alberta was in the midst of a natural gas production and price boom, but the amount of marketable natural gas produced in Alberta last year was the highest it has been in over a decade.
At 113 billion cubic metres in 2023, natural gas production in Alberta was 2% higher than the year before (despite much lower prices and wildfire disruptions) and 8% higher than in 2019 before the pandemic.
On a monthly basis, December 2023 marked the first time since 2009 that production in the province was above 10 billion cubic metres.
As discussed in Monday's Owl, crude oil production in Alberta reached an all-time high last year and, along with the rise in natural gas production, helps explain why the Alberta economy likely led all provinces in economic growth in 2023.
Looking ahead, the latest forecast from the ARC Energy Research Institute, Canadian natural gas production is expected to continue to rise this year and next in anticipation of the completion of the LNG Canada export terminal in British Columbia.
Answer to the previous trivia question: The Three Gorges Dam on the Yangtze River in China is the largest concrete dam in the world.
Today’s trivia question: Which country produces the most natural gas?