Canadian Association of Petroleum Producers, web media
CALGARY — The Canadian Association of Petroleum Producers says Canada is ready to become an energy superpower as major new energy projects move forward and global demand continues to grow.
CAPP says the country is increasingly positioned to attract world-scale investment, diversify its trading relationships and strengthen its role as a reliable supplier of energy to international markets.
The industry group says growing demand for secure energy supplies, industrial growth and energy-intensive technologies such as artificial intelligence and data centres are creating long-term opportunities for Canadian producers.
CAPP president and CEO Lisa Baiton says Canada has the resources and investment potential to play a much larger role in global energy markets, particularly as countries look for stable and dependable suppliers.
The association says major projects can generate significant economic benefits when governments, Indigenous communities, industry and investors are able to work together.
CAPP says those benefits include jobs, government revenues, stronger Indigenous partnerships and broader economic growth.
The comments come as LNG Canada and its partners move ahead with a final investment decision on Phase 2 of the LNG Canada project in Kitimat, B.C.
The expansion will add two LNG processing units to the existing facility and double production capacity from 14 million tonnes per year to 28 million tonnes.
CAPP says the project is expected to create thousands of jobs and generate more than $50 billion in government revenues.
The association also points to economic modelling suggesting Canadian LNG export capacity of 56 million tonnes per year could add more than $11 billion annually to national GDP, support nearly 100,000 jobs throughout the supply chain and generate more than $90 billion in government revenues.
CAPP says the LNG Canada expansion is one example of how new infrastructure could strengthen Canada’s long-term competitiveness while connecting domestic energy resources to growing global markets.
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