In 2023, Canada's gas consumption stood at approximately 4.38 Exajoules. The forecast for 2024 to 2028 shows a consistent increase in gas consumption, rising annually from 4.44 Exajoules to 4.65 Exajoules. This reflects a steady year-on-year growth in gas consumption, averaging a compound annual growth rate (CAGR) of around 1.19% over the five-year period.
Future trends to watch for:
- Transition towards renewable energy sources impacting long-term gas demand.
- Policy shifts regarding energy efficiency and carbon emission regulations.
- Economic factors influencing industrial and residential gas consumption.
- Technological advancements in natural gas extraction and usage efficiency.
