In 2023, support for natural gas in Canada's fossil fuel production was high. However, the forecasts from 2024 to 2028 show a continuous decline. Each year sees a reduction, with a clear downward trend. From 2024 to 2025, support decreases by 5.8%, and from 2025 to 2026, it declines by 6.1%. From 2026 to 2027, there is a 6.4% reduction, and from 2027 to 2028, the drop is 6.8%. The CAGR from 2024 to 2028 is approximately -6.3%, indicating a consistent yearly decrease.
Future trends to watch include potential policy shifts towards renewable energy alternatives, which could further reduce support for natural gas. Additionally, global commitments to decarbonization and technological advancements in energy efficiency could influence these trends. Monitoring regulatory developments and market dynamics will be crucial.
