Alberta
25 facts about the Canadian oil and gas industry in 2023: Facts 11 to 15
From the Canadian Energy Centre
One of the things that really makes us Albertans, and Canadians is what we do and how we do it. It’s taking humanity a while to figure it out, but we seem to be grasping just how important access to energy is to our success. This makes it important that we all know at least a little about the industry that drives Canadians and especially Albertans as we make our way in the world.
The Canadian Energy Centre has compiled a list of 25 (very, extremely) interesting facts about the oil and gas industry in Canada. Over the 5 days we will post all 25 amazing facts, 5 at a time. Here are facts 11 to 15.
The Canadian Energy Centre’s 2023 reference guide to the latest research on Canada’s oil and gas industry
The following summary facts and data were drawn from 30 Fact Sheets and Research Briefs and various Research Snapshots that the Canadian Energy Centre released in 2023. For sources and methodology and for additional data and information, the original reports are available at the research portal on the Canadian Energy Centre website: canadianenergycentre.ca.
11. Breakeven costs in Canadian natural gas sector fifth lowest in the world
The Canadian natural gas sector had a weighted average breakeven gas price of US$2.31 per thousand cubic feet (mcf) in 2022, fifth lowest among major natural gas producing countries. Only in Saudi Arabia (US$1.09 per mcf), Iran (US$1.39 per mcf), Qatar (US$1.93 per mcf), and the United States (US$2.22 per mcf) was the breakeven gas price lower. The weighted average breakeven costs for Canada‘s natural gas sector in 2022 were lower than in Russia, Norway, Algeria, China, and Australia.
Source: Derived from Rystad Energy
12. Natural gas prices have skyrocketed
Natural gas prices have skyrocketed around the world in the last two years. In 2021, the price of natural gas in Asia was US$18.60 per million British thermal units (mmbtu) compared to US$4.40 per mmbtu in 2020—an increase of 323 per cent in just one year. By comparison, in 2021 natural gas sold for US$2.80 per mmbtu on Alberta’s AECO-C trading hub; in Asia it was US$15.88 per mmbtu more (or 564 per cent higher). Between 2019 and 2021, the price gap between Henry Hub in the US and AECO-C natural gas fluctuated from a high of 98 per cent in 2019 to a low of 26 per cent in 2020. In 2021, U.S. natural gas sold for US$3.84 per mmbtu, 40 per cent higher than the US$2.75 per mmbtu average price for AECO-C natural gas that year.
Sources: BP Statistical Review of World Energy and International Monetary Fund
13. Projected government revenues from the Canadian natural gas sector: over US$227 billion through 2050
Government revenues from the Canadian natural gas sector are projected to reach over US$227 billion through 2050. Under a Henry Hub price for natural gas of US$3.00 per thousand cubic feet (kcf), government revenues from the country’s natural gas sector are expected to rise from US$1.4 billion in 2023 to US$3.4 billion in 2050. Should the Henry Hub price reach US$4.00 per kcf, government revenues from the country’s natural gas sector would be projected to rise from US$2.0 billion in 2023 to US$10.0 billion in 2050.
Source: Derived from Rystad Energy
14. Small business plays a key role in the oil and gas sector
Small business plays a key job creation role in Canada’s economy. Statistics Canada defines small businesses as those with between one and 99 paid employees. Medium-size enterprises are those with 100 to 499 employees, while large enterprises have 500 or more employees. In 2022, of the oil and gas firms in Canada, 96.0 per cent were small, 3.5 per cent were medium-sized, and 0.6 per cent were large companies.
With the exception of construction, the oil and gas sector in Canada has a higher proportion of small businesses than other major industries. As of 2022, 96.0 per cent of all oil and gas energy firms had between 1 and 99 employees compared with 93.2 per cent in manufacturing, 89.6 per cent in utilities, and 99.0 per cent in the construction sector. The all-industry average is 98.0 per cent.
Source: Authors’ calculation based on Statistics Canada Table 33-10-0661-01
15. Canada’s oil and gas sector has an impact on key industries across the Canadian economy
In 2019, the activities of the Canadian oil and gas sector were indirectly responsible for significant portions of the GDP created by other key industries across Canada. The sector’s activities generated $100.9 million in GDP in the food and beverage merchant wholesalers industry that year and nearly $4.1 billion in GDP in architectural, engineering, and related services. In 2019, the top five industries whose GDP was most affected by their association with Canada’s oil and gas sector included:
- Architectural, engineering, and related services: $4.1 billion
- Machinery, equipment, and supplies merchant wholesalers: $3.4 billion
- Banking and other depository credit intermediation: $2.1 billion
- Computer systems design and related services: $1.7 billion
- Electrical power generation, transmission, and distribution: $1.5 billion
Source: Statistics Canada
CEC Research Briefs
Canadian Energy Centre (CEC) Research Briefs are contextual explanations of data as they relate to Canadian energy. They are statistical analyses released periodically to provide context on energy issues for investors, policymakers, and the public. The source of profiled data depends on the specific issue. This research brief is a compilation of previous Fact Sheets and Research Briefs released by the centre in 2023. Sources can be accessed in the previously released reports. All percentages in this report are calculated from the original data, which can run to multiple decimal points. They are not calculated using the rounded figures that may appear in charts and in the text, which are more reader friendly. Thus, calculations made from the rounded figures (and not the more precise source data) will differ from the more statistically precise percentages we arrive at using the original data sources.
About the author
This CEC Research Brief was compiled by Ven Venkatachalam, Director of Research at the Canadian Energy Centre.
Acknowledgements
The author and the Canadian Energy Centre would like to thank and acknowledge the assistance of an anonymous reviewer for the review of this paper.
The new Red Deer Justice Centre will help Albertans resolve their legal matters faster.
Albertans deserve to have access to a fair, accessible and transparent justice system. Modernizing Alberta’s courthouse infrastructure will help make sure Alberta’s justice system runs efficiently and meets the needs of the province’s growing population.
Alberta’s government has invested $191 million to build the new Red Deer Justice Centre, increasing the number of courtrooms from eight to 12, allowing more cases to be heard at one time.
“Modern, accessible courthouses and streamlined services not only strengthen our justice
system – they build safer, stronger communities across the province. Investing in the new Red Deer Justice Centre is vital to helping our justice system operate more efficiently, and will give people in Red Deer and across central Alberta better access to justice.”
Government of Alberta and Judiciary representatives with special guests at the Red Deer Justice Centre plaque unveiling event April 22, 2025.
On March 3, all court services in Red Deer began operating out of the new justice centre. The new justice centre has 12 courtrooms fully built and equipped with video-conference equipment to allow witnesses to attend remotely if they cannot travel, and vulnerable witnesses to testify from outside the courtroom.
The new justice centre also has spaces for people taking alternative approaches to the traditional courtroom trial process, with the three new suites for judicial dispute resolution services, a specific suite for other dispute resolution services, such as family mediation and civil mediation, and a new Indigenous courtroom with dedicated venting for smudging purposes.
“We are very excited about this new courthouse for central Alberta. Investing in the places where people seek justice shows respect for the rights of all Albertans. The Red Deer Justice Centre fills a significant infrastructure need for this rapidly growing part of the province. It is also an important symbol of the rule of law, meaning that none of us are above the law, and there is an independent judiciary to decide disputes. This is essential for a healthy functioning democracy.”
“Public safety and access to justice go hand in hand. With this investment in the new Red Deer Justice Centre, Alberta’s government is ensuring that communities are safer, legal matters are resolved more efficiently and all Albertans get the support they need.”
“This state-of-the-art facility will serve the people of Red Deer and surrounding communities for generations. Our team at Infrastructure is incredibly proud of the work done to plan, design and build this project. I want to thank everyone, at all levels, who helped make this project a reality.”
Budget 2025 is meeting the challenge faced by Alberta with continued investments in education and health, lower taxes for families and a focus on the economy.
Quick facts
- The new Red Deer Justice Centre is 312,000 sq ft (29,000 m2). (The old courthouse is 98,780 sq ft (9,177 m2)).
- The approved project funding for the Red Deer Justice Centre is about $191 million.
Show your Alberta side. Buy Local. |
When the going gets tough, Albertans stick together. That’s why Alberta’s government is launching a new campaign to benefit hard-working Albertans.
Global uncertainty is threatening the livelihoods of hard-working Alberta farmers, ranchers, processors and their families. The ‘Buy Local’ campaign, recently launched by Alberta’s government, encourages consumers to eat, drink and buy local to show our unified support for the province’s agriculture and food industry.
The government’s ‘Buy Local’ campaign encourages consumers to buy products from Alberta’s hard-working farmers, ranchers and food processors that produce safe, nutritious food for Albertans, Canadians and the world.
“It’s time to let these hard-working Albertans know we have their back. Now, more than ever, we need to shop local and buy made-in-Alberta products. The next time you are grocery shopping or go out for dinner or a drink with your friends or family, support local to demonstrate your Alberta pride. We are pleased tariffs don’t impact the ag industry right now and will keep advocating for our ag industry.”
Alberta’s government supports consumer choice. We are providing tools to help folks easily identify Alberta- and Canadian-made foods and products. Choosing local products keeps Albertans’ hard-earned dollars in our province. Whether it is farm-fresh vegetables, potatoes, honey, craft beer, frozen food or our world-renowned beef, Alberta has an abundance of fresh foods produced right on our doorstep.
Quick facts
- This summer, Albertans can support local at more than 150 farmers’ markets across the province and meet the folks who make, bake and grow our food.
- In March 2023, the Alberta government launched the ‘Made in Alberta’ voluntary food and beverage labelling program to support local agriculture and food sectors.
- Through direct connections with processors, the program has created the momentum to continue expanding consumer awareness about the ‘Made in Alberta’ label to help shoppers quickly identify foods and beverages produced in our province.
- Made in Alberta product catalogue website
Related information
BREAKING: THE FEDERAL BRIEF THAT SHOULD SINK CARNEY
How Canada’s Mainstream Media Lost the Public Trust
Ottawa Confirms China interfering with 2025 federal election: Beijing Seeks to Block Joe Tay’s Election
Actuators in Industrial Automation: How They Improve Efficiency
-
2025 Federal Election2 days agoCarney’s Hidden Climate Finance Agenda
-
Business2 days agoIs Government Inflation Reporting Accurate?
-
2025 Federal Election2 days agoStudy links B.C.’s drug policies to more overdoses, but researchers urge caution
-
2025 Federal Election2 days agoWhen it comes to pipelines, Carney’s words flow both ways
-
2025 Federal Election2 days agoPolls say Canadians will give Trump what he wants, a Carney victory.
-
2025 Federal Election2 days agoPoilievre’s Conservatives promise to repeal policy allowing male criminals in female jails
-
2025 Federal Election2 days agoCarney Liberals pledge to follow ‘gender-based goals analysis’ in all government policy
-
2025 Federal Election2 days agoTrump Has Driven Canadians Crazy. This Is How Crazy.