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Canadian Oil & Gas Market is projected to reach a Market value of US$ 310.9 Billion by 2035: Visiongain Research Inc

·6-min read

Visiongain has published a new report on Canadian Oil & Gas Market Report from 2021 to 2035. Forecasts by Energy Sources (Oil, Natural Gas, Liquefied Natural Gas), by Operating Segment (Upstream, Midstream, Downstream, Services), by Method (Conventional, Unconventional). PLUS Profiles of Leading Manufacturing Companies and National Market Analysis. PLUS COVID-19 Recovery Scenarios.

Canadian oil & gas market is estimated to be valued at US$ 100.7 billion in 2021 and is projected to reach a market value of US$ 310.9 billion by 2035. Large proven oil & gas reserves in Canada coupled with growing investments in the building the country’s oil & gas infrastructure is expected to augment the demand for Canadian oil & gas. Favourable government policies and high demand for LNG from countries other than the U.S. is also anticipated to drive demand over the forecast period.

Download Exclusive Sample of Report @ https://www.visiongain.com/report/canadian-oil-gas-market-2021/#download_sampe_div

How has COVID-19 impacted the Canadian Oil & Gas Market?

Visiongain has anticipated four scenarios for the Canadian oil & gas market to recover over the forecast period, namely, V, U, W, and L. Effective treatment of COVID-19 infected patients coupled with increased testing rates along the world will help people to safely get back to work without causing a surge in cases. Considering the government implements effective initiatives and financial policies to keep jobs and business operational, a V shaped recovery is possible for the Canadian oil & gas market. The recent development of the COVID-19 vaccine also favours a V shaped recovery of the market.

What are the current market drivers?

Growing Production through Unconventional Sources

Horizontal well and hydraulic fracturing unlocked vast quantities of oil & gas in Canada. Canada has vast shale gas deposits in the Montney Formation in British Columbia and Alberta, the Frederic Brook Shale in New Brunswick and Prince Edward Island, and the Utica Shale in Québec. As the shale gas and tight oil production increased it helped offset declines in current conventional oil and gas production. In order to support the increased production level the country has invested in infrastructure development to make their products available to international markets apart from the U.S.

Increased Technological Expertise

Canada is one of the leaders of innovation in the oil & gas industry. The Canadian government with the support of major oil & Gas Company’s lead to several innovations in order to increase well efficiency reduce methane and GHG emissions and water conservation. The Canadian industry has several associations that aid in connecting with companies that are engaged in developing environment friendly solution. In order to build a sustainable environment around the oil & gas market, Canadian oil & gas producers have invested in green & clean fuels, technologies, and practices.

Market Opportunities

High Demand for Transition Fuels

Renewable energy has not yet matured very far in terms of technology and economic viability. Therefore, companies consider low carbon fuel such as natural gas and LNG (transition fuels) instead of coal and oil. LNG is also considered a cleaner-burning, less carbon-intensive source of energy which is in high demand in the Asia Pacific market, specifically, Japan, China, and South Korea. In order to keep up with the goals of the Paris Agreement which is signed by several countries, companies have to keep their emissions as low as possible, which can be done by using transition fuels till renewable energy sources gain economic viability in the market.

Get Detailed TOC @ https://www.visiongain.com/report/canadian-oil-gas-market-2021/#download_sampe_div

Enhanced Oil Recovery Techniques can improve Well Efficiency

CO2 EOR has gained tremendous government support over the last few years, this is because it traps CO2 emitted from large point sources and then disposes it underground through a technology known as carbon capture & geologic sequestration (CCS). Therefore, it is considered as an efficient option in meeting a country’s climate target. Out of the 98 CO2 EOR projects located in North America, only seven are based in Canada, which account for a production of 35,000 bbl/d.

Wat is the current competitive landscape?

Some of the companies profiled in the report include Suncor Energy Inc., Imperial Oil Ltd., Canadian Natural Resources Ltd., Cenovus Energy Inc., Husky Energy Inc., TC Energy Corp., Pembina Pipeline Corp., Chevron Canada Ltd., CNOOC International Limited, Repsol Oil & Gas Canada, Inc., Shell Canada Ltd., Syncrude Canada Ltd, MEG Energy, Athabasca Oil Corporation, TE Connectivity Ltd., ConocoPhillips Canada, Enbridge Inc. The key companies operating in the Canadian oil & gas market are engaged in mergers & acquisitions and technological collaborations. Companies have largely invested in clean energy projects, in order to improve sustainability in the market.

  • Suncor is expected to become the operator of the Syncrude project by the end of 2021, as agreed in principle by Syncrude Joint Venture Owners, namely, Imperial Oil Resources Limited, CNOOC Oil Sands Canada and Sinopec Oil Sands Partnership. Synergies of US$300 million annually are expected, thereby, making Syncrude even more regionally & globally competitive to achieve a cash operating cost per barrel of US$23/bbl through 90% utilization.

  • Imperial invested US$450 million in 2019 into their Cold Lake project to increase output by 55,000 bbls/d. This project is expected to save $1 billion of capital expenditure by replacing the previously announced Cold Lake expansion project.

Find quantitative and qualitative analyses with independent predictions. Receive information that only our report contains, staying informed with this invaluable business intelligence.

To access the data contained in this document please email contactus@visiongain.com

Information found nowhere else
with our newly report title, you are less likely to fall behind in knowledge or miss out on opportunities. See how our work could benefit your research, analyses, and decisions. Visiongain's study is for everybody needing commercial analyses for the Canadian Oil & Gas Market and leading companies. You will find data, trends and predictions.

Find more research reports on theOil & Gas Sector please click on the following links:

Do you have any custom requirements we can help you with? Any need for a specific country, geo region, market segment or specific company information? Contact us today, we can discuss your needs and see how we can help: catherine.walker@visiongain.com

About Visiongain

Visiongain is one of the fastest growing and most innovative, independent, market intelligence around, the company publishes hundreds of market research reports which it adds to its extensive portfolio each year. These reports offer in-depth analysis across 18 industries worldwide. The reports cover a 10-year forecast, are hundreds of pages long, with in depth market analysis and valuable competitive intelligence data. Visiongain works across a range of vertical markets, which currently can influence one another, these markets include automotive, aviation, chemicals, cyber, defense, energy, food & drink, materials, packaging, pharmaceutical and utilities sectors. Our customized and syndicated market research reports means that you can have a bespoke piece of market intelligence customized to your very own business needs.

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