The global demand for clean energy is a tremendous growth opportunity
Despite an uncertain global business and geopolitical climate, Canada has a stable government and remains a trusted, low-risk destination for long-term, sustainable growth. Canada is actively bridging the liquidity gap between required and available funding for capital expenditure, with a range of financial instruments available for large-scale energy projects. Government action means that Canadian green energy projects are estimated to increase in value by more than 50% over their lifetime, according to Rystad Energy, an independent research and energy intelligence company. In addition, Canada has the lowest marginal effective tax rate on new business investment in the G7. There is tariff-free access to major global markets, including the Comprehensive Economic and Trade Agreement (CETA), between Canada and the European Union, and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), between Canada and 10 other countries in the Indo-Pacific.
The world’s energy future is made in Canada In Canada, growth in both traditional and alternative forms of energy is encouraged, allowing projects to combine profitability and sustainability. The Government of Canada is taking a proactive and strategic approach to reducing risk for energy companies, creating a business-friendly ecosystem nation-wide. The new One Canadian Economy Act prioritizes large-scale projects by reducing the federal approval timeframe to just two years. Companies expanding into Canada benefit from abundant natural resources; a highly skilled and educated workforce; world-class infrastructure; well-established supply chains; and an extremely stable and supportive business environment.
clean technology energy and forest projects in Canada, representing $194.2 billion in investment
215
German
Hydrogen
Biofuels
Renewables
Carbon management
Stability and strong government support
The global energy transition is accelerating demand for hydrogen and Canada’s supply chain is ready for further investment.
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Why choose Canada
A SAFE CHOICE FOR BOLD BUSINESSES
Explore Canada's energy sector
#1
most stable economy in the Americas
Source: Kearney
Top 3
Source: The Global Economy, Transparency International
#2
Source: OECD
#3
Source: 2024 Major Projects Inventory
among G7 countries for political stability
Globally in FDI confidence for 8 years in a row
Source: US News and World Report Report
among OECD countries for FDI inflows in 2024
“Canada understands there is a liquidity gap in financing large clean energy projects. That’s why we’re helping companies reduce the investment risks with established funding programs and new tax credits.”
Laurel Broten, CEO, Invest in Canada
Canada's advantage of businesses
Canada is ranked as one of the most stable economies in the world by U.S. News & World Report. Canada ranks #2 among G7 countries for global competitiveness, offering an attractive environment for business. Canada ranks #2 among G7 nations for political stability.
Stability
Market access
Workforce
Natural resources
Canada is the only G7 nation to have comprehensive free trade agreements with all other G7 members – 15 agreements with 51 countries encompassing 1.5 billion consumers worldwide. Canada is strategically located right next to the United States, with deeply integrated supply chains serving the world's largest consumer market. Canada offers the shortest port routes to both Europe and Asia from North America.
Canada has the most highly educated workforce in the world, according to the OECD. Canada is home to a diverse and multicultural population. There is a large existing skilled energy sector workforce.
Canada is a global leader in mining, energy, forestry and agriculture. Energy feedstocks include oil and gas (and liquefied natural gas for export); renewable sources for hydroelectricity; wind and solar; biomass; and potentially natural hydrogen deposits. Canada is one of the world’s largest agricultural producers and exporters. Primary agriculture alone generated $31.7 billion of GDP.
The global demand for clean energy is a tremendous investment opportunity
of Canada’s GDP has been spent on clean-tech initiatives (5%) since April 2021, compared to the U.S. Inflation Reduction Act’s 1.5% of nominal GDP spent on clean-tech initiatives.
3x more
Renewable energy
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In the rapidly evolving energy transition, Canada stands out as a beacon of stability, opportunity and support for investors in clean energy. Canada is ready to be your partner on this journey towards a cleaner, more prosperous future.
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Canada's commitment to accelerating the energy transition is supported by robust financial incentive programs, designed to maximize the impact and value of investments. Canadian green energy projects are estimated to increase in value by more than 50% over their lifetime, according to Rystad Energy. This is based on a prospective asset in Alberta with a US$45 per megawatt hour (MWh) power purchase agreement (PPA) increasing 2% with inflation annually. As a location to deploy capital, the growth potential of energy transition technologies in Canada is backed by stability, a supportive regulatory environment, and a commitment to mitigating investment risk.
more of Canada’s GDP has been spent on clean-tech initiatives (5%) since April 2021, compared to the U.S. Inflation Reduction Act’s 1.5% of nominal GDP spent
Source: TD Economics
3 times
Canada is positioned to be a global leader in biofuels production, its natural resources and focus on innovation offering fertile ground for investors.
Canada’s unrivalled access to geology, infrastructure and skills offers investors unique opportunities in the rapidly growing carbon management market.
Carbon Management
Canada A safe CHOICE for bold BUSINESSES
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Canada's competitive advantages
Building on Canada’s global energy leadership
Canada is in the top 3 in FDI confidence for the seventh year in a row. Canada's tax treatment for new business investment is the lowest in the G7. Canada offers businesses one of the most generous R&D tax incentives in the G7.
Business Environment
Canada has the most highly educated workforce in the world, according to the OECD. Canada is home to a diverse and multicultural population. There is an large existing skilled energy sector workforce.
Canada is the only G7 nation to have comprehensive free trade agreements with all other G7 members – 15 free trade agreements with 51 countries encompassing 1.5 billion consumers worldwide. Canada is strategically located right next to the United States, with deeply integrated supply chains serving the world's largest consumer market. Canada offers the shortest port routes to both Europe and Asia from North America.
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How can global companies maximize their returns in this changing world, while minimizing potential risk? The answer is, by choosing to expand to Canada.
of federal clean electricity support in the Government of Canada’s Powering Canada’s Future strategy
Source: Government of Canada
$60 billion
Electricity costs in Canada are among the lowest in the OECD. The electricity sector is 82% non-emitting, with the power coming from sources such as hydro, solar, wind and nuclear energy.
Ready for new growth
With 15 free trade agreements across 51 countries, Canada has preferential market access to 1.5 billion consumers. Canada has agreements with the United States and Mexico, the European Union and Asia-Pacific regions, with close access to both European and Asian ports.
According to the Organization for Economic Co-operation and Development (OECD), Canada has the world’s most highly educated workforce. Over 62% of Canadians aged 25-64 have graduated from tertiary education. Canada’s ability to attract highly educated workers is among the highest in the G7.
Source: OECDOECD
The $10 billion that Canada Infrastructure Bank has allocated to its Clean Power priority area offers funding for clean energy projects. Renewable energy initiatives to benefit have included the 100 MW Higgins Mountain Wind in Nova Scotia ($118 million) and Tilley Solar in Alberta ($33 million).
Projects can benefit from the $500 million in biofuel production Canada Infrastructure Bank will invest, supplemented by another $500 million from Clean Fuel Regulations compliance payments. In addition, the Clean Fuels Fund provides $776.3 million over four years, with continuous intake for applications.
Incentives in Canada increase the value of a clean energy project by over 50% across its lifetime, according to Rystad Energy.
Enabling transformative biofuels and lowering risk businesses
Canada is positioned to be a global leader in biofuels production. Its natural resources and focus on innovation offer fertile ground for investors.
Canada’s unrivalled geology, infrastructure and skills offer investors unique opportunities in the rapidly growing carbon management market.
With a diverse climate and topography, Canada is an ideal location for investing in renewable energy technologies.
Explore Canada's energy industries
In the global liquified natural gas (LNG) market, Canada is a uniquely reliable producer and supplier.
LNG
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What makes Canada a trusted partner for forward-thinking businesses?
Canada understands there is a liquidity gap in financing large clean energy projects. That’s why we’re helping companies reduce the investment risks with established funding programs and new tax credits.”
”
Honorable Tim Hodgson, Minister of Energy and Natural Resources of Canada
The LNG projects being built in Canada have the lowest carbon intensity of any LNG projects in the world."
Seize the opportunities in a hydrogen ecosystem ready for growth
Canada’s unrivaled opportunity for hydrogen projects For foreign companies eyeing Canada's burgeoning hydrogen sector, significant opportunities lie across the ecosystem. Including research and development as well as the commercialization of electrolyzers and fuel cells. Diverse hydrogen technologies are pivotal to Canada's strategy for decarbonizing major emission sectors. For business this means there are opportunities to deploy hydrogen in sectors such as long-distance commercial transportation, heating for large buildings, and as a fuel source for hard-to-abate industries such as steel, concrete, and agriculture. These areas offer a direct pathway to participate in a rapidly expanding low-carbon energy market with substantial growth potential. Growing market demand means Canada is already delivering zero- and low-carbon hydrogen at scale. Production capacity is backed by a mature, low-carbon energy industry, and diverse renewable power and carbon capture technologies. Clean hydrogen is also supported by diverse low-carbon pathways, enabling hard-to-abate sectors to reduce their carbon footprints. Companies have the potential to thrive across the entire fuel cell value chain, from R&D and production to end-useds across a range of industries. Canada's educated workforce and expertise makes it a prime location for commercialization.
Canada's hydrogen opportunities as diverse as its landscape
international agreements in place for hydrogen production
Source: Hydrogen Strategy for Canada: Progress Report, 2024
12
hydrogen and fuel cell companies operating in Canada
185+
of potential annual low-carbon hydrogen production
5 million tonnes
Source: Invest in Canada
of production costs in Canada are covered by Clean Hydrogen Tax Credit
Up to 40%
of Germany’s forecast demand for hydrogen could come from imports, including from Canada
Source: National Hydrogen Strategy Update, 2024
70%
of the world’s fuel cell electric buses are powered by Canadian heavy-duty fuel cell engine technology
Source: Hydrogen Strategy for Canada, 2020
50%+
Canada is a top-10 hydrogen producer. It boasts decades of expertise and has more than 5 million tonnes of annual low-carbon hydrogen production announced or under development. The feedstock available to deliver low- or zero-emission hydrogen makes Canada stand out as an investment destination. A total of nine major wind-to-hydrogen projects have been announced in Atlantic Canada. Abundant, low-cost wind energy and plentiful fresh water in the Atlantic provinces enable companies to carry out electrolysis at scale, while hydrogen derivatives can be shipped from its ice-free deepwater harbours to important European markets. Western provinces, notably Alberta, are the heartland of Canada's well-established energy industry. With vast geological formations suitable for secure, long-term CO2 storage, the region can leverage existing energy infrastructure to simultaneously decarbonize its economy and meet the growing global demand for low-carbon hydrogen. For instance, Linde recently announced a $2 billion low-carbon hydrogen partnership with Dow in Alberta, which will be the world’s largest such facility once completed in 2028. Across Canada, companies are rapidly scaling up hydrogen capacity using diverse feedstocks – which also include biomass gasification and waste-derived methods – to give customers the opportunity to select the hydrogen that best meets their needs. Investment opportunities are also emerging in the supply chain: both upstream, such as electrolyser manufacturing, and downstream, including hydrogen-derived products such as green steel and ammonia. “There are a number of technologies and supply chain opportunities for investors in Canada,” says Ivette Vera-Perez, President and CEO, Canadian Hydrogen Association. “For example, we have companies looking to develop a chain of hydrogen fuelling stations, and companies that can offer very interesting foreign direct investment opportunities when it comes to hydrogen storage and distribution of other novel technologies along the supply chain.”
A range of hydrogen opportunities
Canada's hydrogen potential doesn’t stop at production and export. Hydrogen’s adaptability as an energy carrier means it can be integrated into a wide range of sectors – and Canada is commercializing innovative applications. That includes green steel, with the country leveraging its abundant iron ore resources and renewable electricity capacity to position itself as a global leader in low-carbon steelmaking. Green ammonia is also a derivative of low-carbon hydrogen. In fact, eight of the nine projects announced in Atlantic Canada are hydrogen and ammonia projects, taking advantage of the region’s high winds and the comparatively short distances to transport ammonia to European markets. "Canada, and specifically Atlantic Canada, stands out as a leader in green hydrogen development," says Matthew Tinari, Chief Financial Officer and Chief Strategy Officer at EverWind Fuels. "This is due to a unique combination of factors. There are abundant renewable energy resources. There's comprehensive government support, coupled with strong regulatory frameworks. These are combined with an exceptionally skilled and experienced energy sector workforce. All this creates one of the most exciting opportunities for green hydrogen development in the world."
Innovation in hydrogen
Listen as Ivette talks about investing in Canadian hydrogen
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Canada offers a comprehensive suite of policies and programs as well as a regulatory environment designed to accelerate the growth of its hydrogen economy. This includes streamlining permitting processes, providing financial incentives, and supporting research and development. The introduction of refundable Investment Tax Credits (ITCs) for clean energy projects – including producing and storing hydrogen – makes it financially sound to invest in such initiatives. The ITCs have positioned Canada as a cost-competitive supplier of green ammonia to European markets, such as Germany. The recently introduced Clean Hydrogen ITC offers up to 40% in refundable tax credits for projects involving electrolysis and carbon capture, utilization and storage (CCUS). Equipment used for clean ammonia production is eligible for a further tax credit of 15%. Provinces are offering specific incentives for clean energy production while also providing non-financial support, such as making lands available to hydrogen project proponents for onshore wind farms. In addition, the federal and provincial governments are collaborating to develop the first regulatory rules for offshore wind development in the future. Canada also provides contracts for difference to support the growth of low-carbon energy by offering a backstop on future prices, derisking investments and giving predictability on returns. One example of this approach is Canada’s agreement with Germany, signed in 2024 as part of the Canada-Germany Hydrogen Alliance. The countries will commit a shared $600 million between them to support hydrogen exports to Germany, closing the price gap between sellers and buyers. With a potent combination of the right resources, expertise, location, government support and political stability, Canada is the ultimate destination for those seeking to invest in hydrogen and help shape the future of clean energy.
Canada’s competitive hydrogen support
Ivette Vera-Perez, President and CEO, Canadian Hydrogen Association
Things that set Canada apart from the competition when it comes to hydrogen include its free trade agreements and strong support for climate friendly technologies.
"
Canada's hydrogen leadership
Fuelling a sustainable future with Canadian biofuels
Canada is uniquely positioned to be a global leader in biofuels production. With a vast landmass of almost 10 million square kilometres and diverse agricultural landscapes, it’s an ideal source of sustainable feedstocks. Employing biofuels to decarbonize hard-to-abate industries globally holds great promise. Using Canada's natural resources and applying innovation to achieve the necessary biofuels production capacity will be key to success. Canada was an important player in the first generation of biofuels, such as biodiesel and ethanol. As companies and countries work toward their sustainability goals, global demand for cleaner fuel sources is increasing. The second generation of biofuels – known as advanced biofuels – will be a critical part of the supply chain if emissions-intensive industries are to decarbonize. The global market for advanced biofuels is forecast to reach as high as $967 billion by 2036, growing at a 16% compounded annual growth rate from its $50 billion value in 2023. As hard-to-abate industries like road transport and aviation rapidly shift to low-carbon alternatives, Canadian biofuels offer investors an opportunity to help meet growing global demand and power the world. Two significant opportunities in Canada are renewable diesel (fuels made from biomass sources that are fully compatible with existing engines and infrastructure) and sustainable aviation fuels (SAF). SAF will be in particularly high demand in European markets, where EU rules mean that at least 2% of fuel at European airports must be SAF – a regulation that increases to a massive 70% requirement by 2050.
Canada’s natural resources and innovation offer fertile ground for investors
Source: Refuel EU aviation initiative
of all fuel made available to aircraft operators at EU airports must be SAF by 2050
Source: Canadian Council for Sustainable Aviation Fuels
Volume of SAF that existing and proposed renewable diesel and SAF projects in Canada will produce by 2030
525m litres
The SAF potential
Canada is an early leader in the carbon management sector. While progress in other parts of the world is still in blueprint stages, Canada has established operations and has bold new projects in development. The moment of opportunity for investors is now. With the second-largest pipeline of CCUS projects globally, companies operating across Canada are already developing and deploying a range of technologies. These include CCUS; carbon dioxide removal (CDR); direct air capture to carbon storage (DACCS); biomass carbon removal and storage (BiCRS); and enhanced carbon mineralization. And these technologies are not just theoretical solutions. Versions of CO2 transport and sequestration have been in operation since the 1970s, and carbon management is actively being deployed by fast-moving companies today, with support from some of the world’s largest organizations. As companies worldwide look for the best combination of technologies, infrastructure, skilled workforces and access to capital investment, Canada presents a compelling package to achieve success.
At the forefront of carbon technologies
Source: Clean Prosperity
could be captured from Alberta’s industrial sources per year
104 Mt CO2
Canada’s estimated geological capacity for carbon sequestration – roughly 580 times the volume of its 2023 CO2 emissions
389 Gt
Canada is a top-10 hydrogen producer. It boasts decades of expertise and has more than 5 million tonnes of annual low-carbon hydrogen production announced or under development. The feedstock available to deliver low- or zero-emission hydrogen makes Canada stand out as an investment destination. A total of nine major wind-to-hydrogen projects have been announced in Atlantic Canada. Abundant, low-cost wind energy and plentiful fresh water in the Atlantic provinces enable companies to carry out electrolysis at scale, while hydrogen derivatives can be shipped from its ice-free deepwater harbours to important European markets. Western provinces, notably Alberta, are the heartland of Canada's well-established energy industry. With vast geological formations suitable for secure, long-term CO2 storage, the region can leverage existing energy infrastructure to simultaneously decarbonize its economy and meet the growing global demand for low-carbon hydrogen. For instance, Linde recently announced a $2 billion low-carbon hydrogen partnership with Dow in Alberta, which will be the world’s largest such facility once completed in 2028. Across Canada, companies are rapidly scaling up hydrogen capacity using diverse feedstocks – which also include biomass gasification and waste-derived methods – to give customers the opportunity to select the hydrogen that best meets their needs. Investment opportunities are also emerging in the supply chain: both upstream, such as electrolyser manufacturing, and downstream, including hydrogen-derived products such as green steel and ammonia. “There are a number of technologies and supply chain opportunities for investors in Canada,” says Ivette Vera-Perez, President and CEO of Canadian Hydrogen Association. “For example, we have companies looking to develop a chain of fuelling stations, and companies that can offer very interesting foreign direct investment opportunities when it comes to storage and distribution of fuel cell technologies.”
Listen as Stuart talks about investing in Canadian biofuels
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Canada: a world-leader in hydrogen production and technology
Hydrogen and its derivatives have the potential to decarbonize a wide range of emission-intensive industries. Scaling up production to meet the rising demand for clean hydrogen represents a once-in-a-generation opportunity for companies looking to expand internationally.
Canada’s position as a producer of hydrogen globally
Source: Energy Council of Canada
Top 10
Canada’s low-carbon hydrogen ecosystem spans the whole country
Canada is a secure and reliable supplier of clean hydrogen and enabling technologies. The country's hydrogen industry is diverse and represents all elements along the supply chain.
Ted Lomond, President and CEO, North Atlantic
Canada has the existing infrastructure, a long history as an energy exporter, the workforce, the landmass and resources, as well as predictable and stable investment regime, which all make it an attractive place to invest.”
potential increase in value for renewable energy projects over their lifetime in Canada
Source: Rystad Energy
50%
A $1.6 billion facility near Edmonton set to produce natural gas-based hydrogen, that can deliver greenhouse gas reductions.
Air Products' Alberta Net-Zero Hydrogen Complex
Canada's diverse ways of producing hydrogen
Hydrogen advantages in Canada
Canada is a global leader in pioneering new technologies and expertise, with 100 years of leading intellectual property in the hydrogen and fuel cell sector. At a time of turbulence in other global hydrogen markets, strong local conditions offer advanced projects and opportunities closer to end-user industries.
Clean energy companies are increasingly re-prioritizing Canada, noting recent U.S. legislative shifts and market weaknesses that make Canadian stability more attractive.
A stable market
Canada is already home to some the world's most transformative hydrogen projects, a testament to its established leadership. Examples include:
The most advanced project in the Americas, the project focuses on green hydrogen and ammonia production, powered by offshore wind resources.
EverWind Fuels' Point Tupper project
The world’s largest green hydrogen plant when it opened in 2021. It operates a 20 MW Proton Exchange Membrane electrolyzer, generating 8.2 tonnes of green hydrogen daily.
Air Liquide's Bécancour, Quebec facility
1.3 million acres have been permitted with 5.7 million under application to develop Canada’s first natural hydrogen project. The company is now carrying out zone testing that will inform the project’s commercial assessment.
Max Power’s Saskatchewan Natural Hydrogen Project
Canada offers a diverse feedstock for hydrogen production: hydroelectricity, natural gas, biomass and nuclear power. This allows customer demand for low- or zero-carbon emissions products to be met.
Diverse feedstocks
Robust growth opportunities exist throughout the supply chain, from upstream electrolyzer manufacturing to downstream green steel and ammonia production.
Advanced supply chain
Canada is home to a vibrant hydrogen ecosystem with nearly 200 stakeholders, 13 low-carbon production facilities, and 80 projects in development.
Vibrant ecosystem
The Clean Hydrogen ICT provides investors with a 15-40% refundable credit for hydrogen production from electrolysis or abated natural gas, with the cleanest projects receiving the highest support.
Tax credits such as Clean Technology Manufacturing, offering 30% support for investments in new machinery and equipment for clean technology production and critical mineral processing.
Companies interested in renewable hydrogen can utilize numerous funding programs and tax incentives, including the Clean Economy Investment Tax Credits (ITCs).
The Strategic Response Fund (SRF) supports large-scale projects through funding for innovation, technology development and capital investments that modernize operations and expand industrial capacity. SRF’s predecessor, the Strategic Innovation Fund provided HTEC with $49 million in 2025 to support its British Columbia hydrogen liquefier facility.
The Canada Growth Fund, a $15 billion arm’s length investment vehicle, actively attracts private capital for projects spanning hydrogen, CCUS, electrification, and clean technology.
The Canada Infrastructure Bank's $10 billion allocation to Green Infrastructure specifically includes hydrogen projects. Under its Charging and Hydrogen Refuelling Infrastructure (CHRI) Initiative, $337 million is being invested alongside hydrogen developer HTEC to accelerate the deployment of fuel cell vehicle technology.
Canada has a comprehensive hydrogen strategy and strong financial support mechanisms, at both national and provincial levels of government, making it the clear choice to secure a leadership position in the future of hydrogen energy.
How the Canadian government supports hydrogen innovation
Source: Canadian Association of Petroleum Producers
How much Canada aims to scale its CCUS capacity by 2030
5x
Carbon management technologies play a crucial role in Canada’s growth strategy and economic future. The country’s vast geological storage resources and technological expertise make it an ideal location for capturing, utilizing, storing, and removing CO2. A technology with vast potential For foreign companies exploring opportunities in carbon management, there are a wide range of possibilities in Canada. Such opportunities include companies involved in the capture of CO2 from an emissions source, utilizing that CO2 to produce new products, and in the permanent storage and management of CO2. The carbon management sector demands rapid scale, and companies can capitalize on Canada's mix of existing operations, skilled workforces, technologies, infrastructure and groundbreaking projects. Canada’s long-established oil and gas industries present immediate opportunities, as these sectors seek to reduce their emissions and future-proof operations through carbon management technologies. There is also potential for companies innovating in the space with processes such as direct air carbon capture and storage (DACCS)-based CO2 removal. These technologies are currently transacted exclusively through the voluntary carbon credit market. This means there is a market for potential revenue streams to originate from individual corporations or sophisticated demand aggregators.
Canada's geology, infrastructure and skills offer growth potential
Canada's vibrant carbon capture ecosystem
Approximately 389 Gt of prospective onshore storage exists, located mostly in Saskatchewan, Alberta, and Manitoba. Companies can leverage Alberta's immense 79 Gt of geological storage, strategically positioned near high-emitting facilities. Critical CCUS infrastructure, including CO2 transport pipelines and injection technology, is not merely conceptual but fully operational. There are proven assets like the 64 km Quest Pipeline, transporting 1.2 Mt of CO2 annually since 2015, and the Alberta Carbon Trunk Line, operational since 2020 with a 14.6 Mt annual capacity. Investors are presented with an unrivalled opportunity to capture an estimated 104 Mt of CO2 annually from Alberta's industrial sources, representing over 40% of the province's 2021 emissions.
Canada’s financial incentives are supporting CCUS
Significant tax incentives and a comprehensive suite of financial instruments are available for companies. These measures are specifically designed to help large-scale energy projects, ensuring a secure and attractive environment for capital deployment.
Brendan Cooke, Vice President, Carbon Capture, Utilization, Storage, Rystad Energy
Carbon management will be required to achieve climate objectives, but the potential for it to impact change comes down to the ability to bring projects to fruition."
Unlocking an ecosystem of technologies
Carbon management technologies help to reduce greenhouse gases from emissions-intensive industries or deliver carbon dioxide removals (CDRs) by removing and durably storing CO2 from the atmosphere.
Strathcona Resources received $2 billion from the Canada Growth Fund to develop carbon capture infrastructure across Saskatchewan and Alberta.
The Canada Infrastructure Bank's $10 billion allocation to Green Infrastructure specifically includes hydrogen projects. Under its Charging and Hydrogen Refuelling Infrastructure (CHRI) Initiative, $337 million has been is being invest alongside hydrogen developer HTEC to accelerate the deployment of fuel cell vehicle technology.
A $4.5 billion program driving grid modernization, energy storage, and renewable energy deployment.
Smart Renewables and Electrification Pathways Program (SREPs):
Low carbon intensity:
ALBERTA (AB) Low Carbon Hydrogen Production Announcements
August 2024: Linde
November 2021: Northern Petrochemical Corportation (Grand Prairie)
September 2021: Hydrogen Canada Corp. (Alberta Industrail Heartland)
June 2021: Air Products (Edmonton)
May 2021: ATCO (Fort Saskatchewan)
April 2021: Mitsui and HTEC (Vancouver)
May 2023: McLeod Lake Indian Band, Mitsubishi Power
January 2024: Teralta Hydrogen Solutions, Canfor
BRITISH COLUMBIA (BC) Clean Hydrogen Production Announcements
January 2023: GH Power (Hamilton)
October 2023: Carlsun Energy Solutions (Port Elgin)
November 2023: Atura Power (Niagara)
ONTARIO (ON) Low Carbon Hydrogen Production Announcements
February 2023: Bear Head Energy
February 2023: EverWind Fuels
NOVA SCOTIA (NS) Clean Hydrogen Production Announcements
April 2024: EVREC
June 2023: Pattern Energy
February 2023: Everwind
March 2023: ABO Energy
July 2024: North Atlantic Refining Limited
NEWFOUNDLAND AND LABRADOR (NL) Clean Hydrogen Productions Announcements
April 2021: Proton Technologies (Kerrobert)
SASKATCHEWAN (BC) Clean Hydrogen Production Announcements
June 2022: Charbone Hydrogen (Selkirk)
MANITOBA (MB) Clean Hydrogen Production Announcements
August 2022: Cross River Infrastructure Partners
NEW BRUNSWICK (NB) Clean Hydrogen Production Announcements
February 2021: Evolugen, and Gazifère Inc. (Outaouais)
May 2023: First Hydrogen (Shawinigan)
October 2023: Air Liquide (Bécancour)
November 2023: TES H2
July 2024: HY2GEN
QUEBEC (QC) Clean Hydrogen Production Announcements
Announced low-carbon hydrogen production projects
May 2023: McLeod Indian Band, Mitsubishi Power
April 2021: Proton Technologies (Kerrabert)
November 2021: Northern Petrochemical Corportation (Grand Frairie)
November 2023: Autra Power (Niagara)
February 2021: Evolugen, and Gazifère Inc. (Outaouals)
October 2023: Air Liquide (Becancour)
Azure Sustainable Fuels is planning large-scale SAF production facilities, utilizing approximately 1 million tonnes of agricultural feedstocks annually.
Azure Sustainable Fuels: SAF production from agricultural feedstock
Varme Energy is developing Canada's first industrial-scale facility in Edmonton, set to divert 150,000 tonnes of residential garbage annually from 2027.
Varme Energy: waste-to-energy with integrated carbon capture
Enerkem operates the world's first biorefinery converting municipal solid waste into methanol and ethanol in Edmonton, with its innovative process now expanding to Quebec for biofuels and circular chemicals from non-recyclable waste and biomass.
Enerkem: proven, commercial-scale waste-to-fuel technology
Projects and innovation in Canada’s biofuels market
525 million litres
Source: ReFuelEU Aviation
A leader in SAF
Canada provides diverse opportunities for biofuel production, which allows companies to develop a range of drop-in biofuels. These meet the same fuel quality standards as the petroleum fuels they replace and can be used in existing engines and infrastructure. These production capabilities come from leveraging a range of crops such as corn and canola in the Prairies, and forestry residues across vast forested regions. This variety allows for localized biofuel industries. For instance, there are resources for ethanol from grain in the agricultural heartland. There are also cellulosic ethanol or biodiesel from wood waste in provinces like British Columbia and Ontario. Canada has a robust existing energy infrastructure that is also compliant with drop-in fuels. Production and storage facilities can be connected to supply chains by pipelines, rail and road, leading to ports for international shipping. This established and expanding network is fully primed for growth.
Canada’s range of biofuel options
The EU will become a major importer of SAF as mandates grow
From 2025, aviation fuel suppliers must ensure that all fuel made available to aircraft at EU airports contains a minimum share of SAF, which will rise over the coming decades
Canada's vast sustainable biomass resources offer the potential to produce 7 to 10 billion litres of SAF annually. Businesses can benefit from a pipeline of 500 million litres of SAF production from existing or announced Canadian biofuels facilities by 2030. The opportunity isn't just in the Canadian and North American markets – there is also massive export potential. Canadian firms are strategically positioned across the entire renewable fuels value chain, actively developing regional ‘feedstocks-to-fuels’ hubs and low-carbon aviation centers, ensuring diversified outcomes.
Capture the growth opportunity in Canada’s SAF capabilities
Target SAF use in Canada by 2030
Source: The Canadian Council for Sustainable Aviation Fuels
1 billion litres
The Canada Growth Fund is a $15 billion arm’s-length investment vehicle. It provides private capital for projects in biofuels; carbon capture utilization and storage (CCUS); electrification; low-carbon electricity; hydrogen; clean technology; and low-carbon supply chains. The fund’s portfolio includes a strategic partnership with Gibson Energy and Varme Energy for Canada's first waste-to-energy facility with carbon capture technology; and $50 million to Montréal’s Idealist Capital.
The $10 billion that Canada Infrastructure Bank has allocated to its Clean Power priority area offers funding for clean energy projects. Renewable energy initiatives to benefit have included Varennes Carbon Recycling ($241 million); the 100 MW Higgins Mountain Wind ($118 million); Tilley Solar ($33 m); and Azure Sustainable Fuels ($4 million).
The Strategic Response Fund (SRF) actively supports large-scale projects, including hydrogen and renewable fuel production. Projects supported under SRF or its predecessor fund include a $49 million investment in HTEC’s project to build and operate a facility in North Vancouver. It will capture and liquefy 15 tonnes per day of industrial by-product hydrogen, turning waste into a valuable, clean fuel.
Canada actively enhances returns on clean energy and technology investments. Numerous funding programs and substantial tax incentives are available, including a range of federal Clean Economy Investment Tax Credits (ITCs).
Enabling transformative biofuels and lowering risk
Biofuel and renewal natural gas (RNG) projects across Canada
emissions reduction that Canadian biodiesels can offer compared to fossil diesel
Source: Advanced Biofuels Canada
80 to 117%
The sustainable, scalable potential in Canadian biofuels The primary opportunities in Canada lie in renewable and drop-in fuels. Scalable, sustainable production is made possible by Canada's immense and diverse renewable biomass resources, ranging from agriculture and forest products to dedicated energy crops and waste-based feedstocks. These natural advantages are significantly bolstered by an established energy industry, substantial government support and innovation within the sector. Coupled with a clear national strategy to boost production, firms operating in Canada are positioned for growth across the entire renewable fuels value chain.
Scaling up to meet a global demand for new fuels
Backed by major government support, Canada’s biofuels industry is ramping up renewable natural gas (RNG), sustainable aviation fuel (SAF), and renewable diesel to meet booming demand at home and abroad.
Make Canada your choice for GROWTH IN biofuels
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Recent projects in Canada’s biofuels market
Canada boasts diverse opportunities for biofuel production, leveraging a range of crops such as corn and canola in the Prairies, and forestry residues across vast forested regions. This regional variety allows for localized biofuel industries, with potential for ethanol from grain in the agricultural heartland and cellulosic ethanol or biodiesel from wood waste in provinces like British Columbia and Ontario. And Canada’s robust infrastructure, within an established and expanding network, is fully primed for this growth.
The strategic advantage lies in Canada's vast sustainable biomass resources, offering 7 to 10 billion litres of annual SAF potential. Businesses can benefit from the predicted 500 million litres of SAF existing or announced Canadian biofuels that facilities could produce by 2030. And the opportunity isn't just in the Canadian and North American markets – there is also a massive export market. Canadian firms are strategically positioned across the entire renewable fuels value chain, actively developing regional ‘feedstocks-to-fuels’ hubs and low-carbon aviation centers, ensuring diversified outcomes.
Create value from Canada’s growth
existing or planned renewable natural gas (RNG) projects in Canada
Source: Natural Resources Canada
39
Predicted SAF use in Canada by 2030
The fund’s portfolio of clean technology organizations includes $234 million to Hydrostor, based in Ontario, and $50 million to Montréal’s Idealist Capital.
The Strategic Innovation Fund (SIF) actively supports decarbonization projects, including hydrogen and renewable fuel production, through its Net Zero Accelerator. Projects supported include a $49 million investment in HTEC’s project to build and operate a facility in North Vancouver that will capture and liquefy 15 tonnes per day of industrial by-product hydrogen, turning waste into a valuable, clean fuel.
Biofuel and RNG projects across Canada
Canada is already home to more than 50 operational advanced biofuel and RNG projects, including 6 biodiesel, 13 ethanol, 3 renewable diesel, and 28 RNG facilities.
Emissions reduction that Canadian biodiesels can offer compared to fossil diesel
Innovation, natural resources – Canada is ready for growth
Your biofuels opportunity in Canada The primary opportunities in Canada lie in renewable and drop-in fuels. Scalable, sustainable production is made possible by Canada's immense and diverse renewable biomass resources, ranging from agriculture and forestry to dedicated energy crops and waste-based feedstocks. These natural advantages are significantly bolstered by substantial federal support. Public support for biofuels is driving a commitment to accelerate production to meet both domestic and global demand. Canada is actively prioritizing renewable natural gas, sustainable aviation fuel (SAF), and renewable diesel. This support, coupled with a clear national strategy to boost production, positions firms operating from Canada across the entire renewable fuels value chain for growth.
Make Canada your choice for the future of biofuels
Download our guide to learn more about opportunities across the biofuels sector and how Canada provides support for businesses looking to expand. Canada, where bold feels at home.
Download our guide learn more about opportunities across [article topic] sector and how Canada provides support for businesses looking to expand. Canada, where bold feels at home.
What’s on offer isn’t just potential, it’s proven performance. Canada is already home to more than 50 operational advanced biofuel and RNG projects, including 6 biodiesel, 13 ethanol, 3 renewable diesel, and 28 RNG facilities.
All feedstock Agriculture Forestry & biomass Municipal solid waste
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tax credits through the U.S. IRA, compared to carbon credits that upstream oil sands producers in Alberta can expect with Canada’s incentives by 2030
C$115/tonne vs C$135/tonne
CCUS uptake needs to grow 120 times by 2050 for countries to achieve their net zero commitments, according to McKinsey analysis, with at least 4.2 gigatonnes of CO2 captured per year. Scaling up the technology means building and deploying more operational projects, pipelines and storage sites. And Canada is in the advantageous position of being able to bring CCUS and other forms of carbon management projects to fruition. “Companies in Canada have been measuring and monitoring emissions for over a decade. They've also been building linear infrastructure and major capital projects for decades,” says Cooke. “Canada has the geologists, engineers and the workforce from the oil and gas industry that can deliver the skills required to evaluate the subsurface, develop pipelines and build carbon capture facilities.” For companies and investors, this represents an opportunity to quickly establish a lead in a sector that will become increasingly important all over the world.
Canada: your destination for carbon management investment
Listen as Brendan talks about investing in carbon management in Canada
"Carbon management will be required to achieve climate objectives, but the potential for it to impact change comes down to the ability to bring projects to fruition."
Canada recognizes the pivotal role of policy in accelerating the adoption of technologies like CCUS. Known for its supportive regulatory environment, the country ensures investors feel confident that they can access the support required for success. Canada’s competitive suite of carbon management incentives are comparable to those offered by the U.S. Inflation Reduction Act (IRA). Canada’s programs and incentives – including the CCUS Investment Tax Credit, the Canada Growth Fund and the Energy Innovation Program – are set up to provide substantial support for project development and deployment upon application approvals. At a provincial level, initiatives like Alberta's TIER carbon pricing and Carbon Capture Kickstart further encourage emission reductions and clean technology adoption. There is also the Alberta Carbon Capture Incentive Program, which offers grants to accelerate the development of CCUS. The Shell Energy and Chemicals Park in Scotford, Alberta exemplifies the power of collaboration, through its investments, technological advancements and incentives from both national and provincial governments. This flagship project, which captures and stores over 1 million tonnes of CO2 annually, demonstrates the effectiveness of Canada’s federal and provincial-level policy in driving large-scale CCUS deployment. A multilayered approach ensures that carbon management projects in Canada are not only environmentally sound but also economically viable, creating a win-win for investors and the planet. Canada's stable regulatory environment also provides long-term certainty for investors, ensuring that projects are not subject to sudden policy shifts.
How federal and provincial incentives cooperate, reduce risk and improve investment returns on CCUS projects
Canada’s estimated geological capacity for carbon sequestration – almost 550 times the volume of its 2022 CO2 equivalent emissions
Western Canada, especially Alberta, Saskatchewan and Manitoba, is the primary location for Canada’s strength in natural storage capacity, infrastructure and skills. “The geological subsurface regions, like Alberta and Saskatchewan, are world-class for storage," says Brendan Cooke, Vice President of Carbon Capture, Utilization, Storage at Rystad Energy. "The same is true for their understanding of the subsurface, given the history of oil and gas developments in those regions.” Alberta sits across 79 Gt of geological storage, offering immense potential to deploy carbon management technologies. Many of the province's high-emitting facilities are located close to storage locations, and CCUS infrastructure – such as CO2 transport pipelines and injection technology – is already in place. “Importantly, the region has a history of organizations that are able to deliver major capital projects, as well as the workforce and knowledge required for delivering carbon capture and storage developments,” adds Cooke. The 64 km Quest Pipeline has been operating since 2015 and can transport 1.2 Mt of CO2 per year. The Alberta Carbon Trunk Line started up in 2020 and has a full capacity of 14.6 Mt of CO2 per year. It’s estimated that as much as 104 Mt of CO2 per year could be captured from Alberta’s industrial sources, equivalent to more than 40% of the province’s total emissions for 2021. Unlocking this potential offers an unrivalled carbon management opportunity to investors.
Advantages in Western Canada
A robust CCUS infrastructure in Canada that accounts for 20% of installed CCUS capacity around the world, combined with its vast natural resources and strong industrial base, provides fertile ground for scalability. Canada’s geology is foundational for significant growth in carbon management. The country is estimated to have more than 389 gigatonnes (Gt) of prospective onshore carbon storage capacity. This capacity is almost 550 times the volume of Canada’s 2022 CO2 equivalent emissions of 708 megatonnes (Mt). The country’s natural geological advantage is partnered with existing industrial infrastructure and an experienced workforce. Canada is already home to more than 20,000 geoscientists and 300,000 engineers, and the oil and gas industry employs more than 100,000 workers with the potential to deliver the skills needed to deploy CCUS at scale.
Infrastructure, geology and an experienced workforce
Canada’s global ranking for CCUS projects in development
Source: Global CCS Institute 2023
The percentage of the world’s operating commercial-scale CCUS projects located in Canada
20%
Canada is an early leader in the carbon management sector. While progress in other parts of the world is still in blueprint stages, Canada has established operations and bold new projects in development. The moment of opportunity for investors is now. With the second-largest pipeline of CCUS projects globally, companies operating across Canada are already developing and deploying a range of technologies. These include CCUS; carbon dioxide removal (CDR); carbon management - direct air carbon capture and storage (DACCS); biomass carbon removal and storage (BiCRS); and enhanced carbon mineralization. And these technologies are not just theoretical solutions. Versions of CO2 transport and sequestration have been in operation since the 1970s, and carbon management is actively being deployed by fast-moving companies today, with support from some of the world’s largest organizations. As companies worldwide look for the best combination of technologies, infrastructure, skilled workforces and access to capital investment, Canada presents a compelling package to achieve success.
Carbon management technologies – innovative processes that capture, store, transport and use CO2 emissions – will play a crucial role in the global pursuit of net zero. For emissions-intensive sectors – such as steel, cement and refining – carbon capture, utilization and storage (CCUS) will be crucial to decarbonizing at the pace needed to meet companies’ and countries’ climate goals. Essential sectors that are extremely difficult to fully abate, including aviation and agriculture, will be required to offset their residual emissions with carbon removals. Carbon management technologies must scale up at a pace rarely seen in other industries. It’s an opportunity for investors to be at the forefront of this new and essential industry.
Canada's geology, infrastructure and skills offer investors unique opportunities
Investing in Canada's carbon management technologies
Download our guide to learn more about opportunities across the carbon management sector and how Canada provides support for businesses looking to expand. Canada, where bold feels at home.
Creating the right conditions to invest
Canada: A global leader
QUEST — CO2, capture at bitumen upgrader
Glacier Gas Plant CCS — a modular carbon capture and storage project
Alberta Carbon Trunk Line — a CCUS hub
Weyburn-Midale — CO2 injection, monitoring, enhanced oil recovery and storage
Boundary Dam — CO2 capture at a coal-fired power station
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2
3
4
5
Canada’s refundable investment tax credits (ITCs) are designed to grow Canada’s clean economy. The Carbon Capture, Utilization and Storage (CCUS) ITC provides a refundable tax credit of:
The Alberta Carbon Capture Incentive Program (ACCIP) is designed to align with the federal CCUS ITC and other operating supports, such as contracts for difference
Saline aquifers
Operational commercial scale projects
Pipeline
Map Source: North American Carbon Storage Atlas
Map Source: Government of Canada, 2023
Map Source: Canada Energy Regulator, 2024
of the global pool of carbon management start-ups, including several XPRIZE winners, are based in Canada
25%
Canada offers investors a thriving ecosystem of innovation, attracting many carbon management startups. These include British Columbia-based Carbon Engineering, which is pioneering DACCS. Meanwhile, Canada has eight publicly funded research and testing facilities dedicated to developing and scaling up carbon management technologies, in addition to those run by universities and private organizations. A focus on international collaboration further strengthens Canada’s knowledge and skill base, ensuring new projects have access to the expertise needed for success. Canada is one of 24 members of Mission Innovation, an initiative dedicated to collaborative action, investment, research and development towards net zero. Meanwhile, Alberta is one of eight government members of the Global CCS Institute, ensuring the country is at the forefront of development. For investors, it means projects are not operating in isolation but benefit from shared knowledge and innovation taking place around the world.
Collaborating for innovation
Alberta Carbon Trunk Line (ACTL)
QUEST CCS pipeline
Boundary Dam to Weyburn CO2 pipeline
Souris Valley Pipeline
Increasing number of geological formations for potential carbon storage
Sedimentary basin
Source: Fasken
Source: Government of Alberta
The world's energy needs are changing. Fulfilling them is reshaping industries, driving innovation, and forcing the global economy to rethink how we generate power. Such a significant transformation is creating massive investment opportunities. According to UK-based Schroders, infrastructure for the worldwide energy transition requires nearly $120 trillion in investment from 2020 to 2050. For businesses and investors, there is the once-in-a-generation potential to deploy technologies and innovations at unprecedented scale. The pace of the world’s need for energy will not slow down. The International Energy Agency predicts that demand will rise globally at an ever-faster rate, growing by an average of 3.4% each year through to 2026. Driven by population and economic growth, this acceleration in demand makes the need for investment in sustainable energy more pressing than ever. Transitioning to a renewable, electrified, low-carbon future will depend on private businesses and capital, and is already opening a world of new opportunities for ambitious investors. So, how can global companies maximize their returns in this changing world, while minimizing potential risk? The answer is, by choosing Canada.
in the world for the global lithium-ion battery supply chain
in EV battery investment since 2020, mostly from global companies
$46 billion
Canada is a place of abundant natural resources, where opportunities abound to build on the established industries and skills that have made it a leader in the global energy sector. Canada offers a location for global companies to implement the next generation of energy technologies. Investors in Canada benefit from a highly skilled and educated workforce, world-class infrastructure with well-established supply chains, and an extremely stable and supportive political environment. “The energy transition could have the same type of impact as the Industrial Revolution,” says Laurel Broten, CEO of Invest in Canada. “But it won't be possible without massive private sector investment. And forward-thinking companies are seizing those opportunities right now.” Canada’s proactive and strategic approach to reducing the risk of energy transition investment has created a business-friendly ecosystem. Canada has the lowest marginal effective tax rate on new business investment in the G7. There is tariff-free access to major global markets, including the Comprehensive Economic and Trade Agreement (CETA) between Canada and the European Union. Electricity costs in Canada are among the lowest in the Organization for Economic Co-operation and Development (OECD). Furthermore, the electricity sector is 82% non-emitting, powered from sources such as solar, hydro, wind and nuclear energy that do not emit greenhouse gases. And 60% of Canada's electricity comes from hydropower, making Canada the world's third largest producer of hydroelectricity. All these factors make Canada a solid choice for businesses. Independent research and energy intelligence company Rystad Energy, an independent research and energy intelligence company even named, Canada the second most attractive location for investment in renewables in the world.
for qualified carbon capture expenditures to capture carbon from emissions sources
Canada’s refundable investment tax credits (ITCs) are designed to grow Canada’s clean economy. The carbon capture, utilization and storage (CCUS) ITC provides a refundable tax credit of:
A robust CCUS infrastructure in Canada that accounts for 20% of installed CCUS capacity around the world, combined with its vast natural resources and strong industrial base, provides fertile ground for scalability. Canada’s geology is foundational for significant growth in carbon management. The country is estimated to have more than 389 gigatonnes of prospective onshore carbon storage capacity. This capacity is 580 times the volume of Canada’s 2023 CO2 equivalent emissions of 670 Mt. The country’s natural geological advantage is partnered with existing industrial infrastructure and an experienced workforce. Canada is already home to more than 20,000 geoscientists and 300,000 engineers, and the oil and gas industry employs more than 100,000 workers with the potential to deliver the skills needed to deploy CCUS at scale.
Technology, geology and the skills
Canada offers investors a thriving ecosystem of innovation, attracting many carbon management startups. These include British Columbia-based Carbon Engineering, which is pioneering direct air capture technology. Meanwhile, Canada has eight publicly funded research and testing facilities dedicated to developing and scaling up carbon management technologies, in addition to those run by universities and private organizations. A focus on international collaboration further strengthens Canada’s knowledge and skill base, ensuring new projects have access to the expertise needed for success. Canada is one of 24 members of Mission Innovation, an initiative dedicated to collaborative action, investment, research and development towards net zero. Meanwhile, Alberta is one of eight government members of the Global CCS Institute, ensuring the country is at the forefront of development. For investors, it means projects are not operating in isolation but benefit from shared knowledge and innovation taking place around the world.
Listen as Laurel explains more about this investment opportunity
Cardinal Energy Midale CO2 pipeline
Solar PV
Wind power
Glacier Gas CCS — a modular carbon capture and storage project
for qualified carbon transportation, storage and use expenditures
for qualified carbon capture expenditures to capture carbon from ambient air
grant for the new eligible CCUS capital cost for hard-to-abate industries
Canada is ready to lead the world in carbon management
A technology with vast potential For foreign companies exploring opportunities in carbon management, there are a wide range of possibilities in Canada. Such opportunities include companies involved in the capture of CO2 from an emissions source, utilizing that CO2 to produce new products, and in the permanent storage and management of CO2. The carbon management sector demands rapid scale, and companies can capitalize on Canada's mix of existing operations, skilled workforces, technologies, infrastructure and groundbreaking projects. Canada’s long-established oil and gas industries present immediate opportunities, as these sectors seek to reduce their emissions and future-proof operations through carbon management technologies. There is also potential for companies innovating in the space with processes such as direct air carbon capture and storage (DACCS)-based CO2 removal. These technologies are currently transacted exclusively through the voluntary carbon credit market. This means there is a market for potential revenue streams to originate from individual corporations or sophisticated demand aggregators.
Carbon management technologies play a crucial role in Canada’s growth strategy and economic future. The country’s vast geological storage resources and technological expertise make it an ideal location for capturing, utilizing, storing, and removing CO2.
Canadian-based companies are already global leaders at carbon management. In Innisfail, Alberta, Deep Sky has started operations as the world’s first cross-technology carbon removal innovation and commercialization centre. The site enables DACCS developers to test and assess their technology’s ability to function in a real-life environment. Testing multiple DACCS technologies simultaneously, the facility will have the capacity to capture 3,000 tons of CO2 per year, trialing up to 10 different technologies simultaneously. The top performing units can then be commercially deployed at scale at Deep Sky projects. Today, the centre is the only location in North America where carbon is being captured from the ambient air and sequestered permanently underground. True North Carbon, launched by US-based CarbonCapture Inc., is one such business launching a commercial pilot at the facility. Project Tamarack represents the largest single DACCS deployment in Canada, with the capacity to capture 2,000 tonnes of CO2 from the atmosphere. In October 2025, Deep Sky also announced a new Manitoba-based DACCS facility. Capable of removing 500,000 tonnes of carbon from ambient air, it will be one of the world’s largest DACCS projects and bring $500 million to the region.
Deep Sky: The world’s first carbon removal innovation and commercialization centre
Enhanced carbon mineralization Processes that accelerate minerals’ natural CO2 absorption from the atmosphere.
Bioenergy with carbon capture and storage Technology using organic biomass to generate power, and then capturing biogenic CO2 at the emissions point and storing it permanently.
Biomass carbon removal and storage (BiCRS) Processes that involve capturing atmospheric CO2 via organic plant growth and then storing it in long-lived biomass products or through geological storage.
Direct air carbon capture and storage (DACCS) Technologies that extract CO2 directly from the air at any location, not necessarily at the point of emission, and then store it permanently.
Carbon capture, utilization and storage (CCUS) Processes that capture CO2 from an emissions point and utilize it or store it permanently and safely.
Canada’s estimated geological capacity for carbon sequestration – almost 550 times the volume of its 2023 CO2 equivalent emissions
The Government of Canada is taking decisive action to support the carbon management sector. In 2021, the government pledged $319 million over seven years into research, development, and demonstrations to advance the commercial viability of CCUS technologies. In July 2025, it announced a further $21.5 million in funding for carbon capture and clean technologies. The new Building Canada Act signals that the Government of Canada prioritizes large-scale projects by reducing the federal approval timeframe to just two years. This is supported by the Major Projects Office’s initiative to advance projects of national interest by simplifying and accelerating federal decision-making. Such efforts are designed to help companies bridge any funding gaps and ensure Canada offers a sustainable and profitable destination for carbon management projects. In September 2025, the Government of Canada included the Alberta-based Pathways Plus carbon capture and pipeline project among the first major projects that are being scoped for approval.
A government fully behind carbon capture
The Alberta Carbon Capture Incentive Program has invested more than $1.2 billion in the Alberta Carbon Trunk Line project and the Quest project.
The Canada Growth Fund has committed up to US$100 million toward Svante technologies’ commercial carbon capture and removal projects in Canada and the U.S.
Strathcona Resources and the Canada Growth Fund have agreed to invest up to $2 billion, to build carbon capture and sequestration infrastructure on Strathcona’s steam-assisted, gravity-drainage oil sands facilities in Saskatchewan and Alberta. The Canada Growth Fund is making an initial investment of $500, which could rise to a maximum of $1 billion.
Funding in action
Canada’s tax incentives and support funds are already being deployed to bridge liquidity gaps, empowering businesses to develop CCUS technologies and infrastructure.
The Alberta Carbon Capture Incentive Program offers grants to help accelerate the development of carbon capture, utilization and storage in the province.
Carbon management technologies help to reduce greenhouse gases from emissions-intensive industries, or deliver carbon dioxide removals (CDRs) by removing and durably storing CO2 from the atmosphere. The carbon managment ecosystem offers diverse avenues for growth:
Canada’s global ranking in public funding for CCUS-related R&D
Source: Kearney Report, 2021
#4
A robust CCUS infrastructure in Canada that accounts for 20% of installed CCUS capacity around the world, combined with its vast natural resources and strong industrial base, provides fertile ground for scalability. Canada’s geology is foundational for significant growth in carbon management. The country is estimated to have more than 389 gigatonnes (Gt) of prospective onshore carbon storage capacity. This capacity is almost 550 times the volume of Canada’s 2023 CO2 equivalent emissions of 694 megatonnes (Mt). The country’s natural geological advantage is partnered with existing industrial infrastructure and an experienced workforce. Canada is already home to more than 20,000 geoscientists and 300,000 engineers, and the oil and gas industry employs more than 100,000 workers with the potential to deliver the skills needed to deploy CCUS at scale.
Adrian Corless, CEO of CarbonCapture Inc. and True North Carbon
The size of the carbon removal market will, ultimately, grow to hundreds of billions dollars or greater market to reach the scale to get to net zero. Canada sits in a unique position to be a center of deployment and supply for carbon removal credits that will be in demand all over the globe."
Number of world-class carbon management research and testing facilities in Canada
8
Canada offers investors a thriving ecosystem of innovation, attracting many carbon management startups. These include British Columbia-based Carbon Engineering, which is pioneering DACCS. Meanwhile, Canada has eight publicly funded research and testing facilities dedicated to developing and scaling up carbon management technologies, in addition to those run by universities and private organizations. A focus on international collaboration further strengthens Canada's knowledge and skill base, ensuring new projects have access to the expertise needed for success. Canada is one of 24 members of Mission Innovation, an initiative dedicated to collaborative action, investment, research and development towards net zero. Meanwhile, Alberta is one of eight government members of the Global CCS Institute, ensuring the country is at the forefront of development. For investors, it means projects are not operating in isolation but benefit from shared knowledge and innovation taking place around the world.
In September 2025, the government announced an investment of $5.8 million to support made-in-Canada carbon management technologies.
The $15 billion Canada Growth Fund actively attracts private capital for projects including CCUS, electrification, hydrogen, biofuels, and clean technology supply chains.
The Clean Technology Manufacturing ITC provide 30% support for new machinery and equipment in clean technology production and critical mineral processing.
The Clean Technology ITC supports capital investment in specified clean technologies, while the Carbon Capture and Storage ITC offers significant refundable credits: up to 60% for direct air capture, 50% for other capture equipment, and 37.5% for transportation, storage, or usage.
The Government of Canada has already deployed a comprehensive suite of funding programs and tax incentives, solidifying its commitment to private investment in clean energy and technologies, including with its Clean Economy Investment Tax Credits (ITCs).
The natural place for renewable energy growth
Source: World Population Review, 2024
Canada’s global rank among countries leading in clean energy technology and infrastructure investments
#8
These include a Clean Technology ITC and a Clean Technology Manufacturing ITC.
Greengate Power CEO Dan Balaban, Global Energy Show in 2021
We have growing needs for power in this province [Alberta]. I believe a significant chunk of that new power demand can come from renewables.
Centres & pilot projects
Strathcona Resources:
Canada Growth Fund:
Alberta Carbon Capture Incentive Program:
Geography:
Strathcona Resources
Canada's diverse climate and topography make it one of the world’s most promising locations for investment in renewable energy. The landmass is vast, with abundant sunlight and strong winds, and Canada is well-positioned to provide renewable power and low-carbon products. The country’s energy transformation mission of achieving a net-zero electricity grid by 2035 will require a sevenfold increase in renewable capacity. Private investment is essential to clean energy, and those who seize this opportunity stand to reap significant returns. Companies that operate in Canada also benefit from the country’s stable political landscape, skilled workforce and strong commitment to sustainability. All in all, renewable electricity generation is a cornerstone of Canada’s sustainability value proposition.
A potential as impressive as Canada’s landscape
Percentage of Canada’s electricity generation from wind and solar sources in 2022, suggesting a major opportunity for businesses to scale deployment
6.6%
Natural attributes creating opportunities
Annual installations
Annual installations Cumulative
(2007-2022, in megawatts)
Cumulative
For businesses looking for new growth, Canada's biofuels industry presents a compelling prospect. This is an industry rapidly scaling up production of renewable natural gas, sustainable aviation fuel and renewable diesel to address surging domestic and international demand.
Gezielte staatliche Förderung durch Steuergutschriften wie die Clean Economy Investment Tax Credits (ITCs) im Wert von 93 Milliarden US-Dollarkönnen über die nächsten zehn Jahre beantragt werden
Staatliche Förderprogramme des Bundes
Across Canada’s provinces and territories, local policies and incentives can be combined with federal ITCs to further support investment decisions
Strategic Innovation Fund (SIF) – Net Zero Accelerator:
Up to $204 million for Canada's largest factory for high performance lithium-ion battery cells in Maple Ridge, British Columbia.
Projects
As many as 215 clean technology projects are currently under construction or planned, representing $194.2 billion in potential investment. Wind and solar already met over 8% of Canada’s electricity demand in 2023. As of 2024, Canada’s total installed capacity for wind, solar, and storage exceeded 24 GW. Over the past five years, nearly 4.7 GW of new wind, almost 2 GW of utility‑scale solar, and 200 MW of energy storage has been added.
Wind energy has outpaced all other forms of new power generation in Canada over the past decade, with nearly 18 GW installed by the end of 2024. As of January 2025, there were 314 wind projects across the country, according to the Canadian Renewable Energy Association. Alberta alone added 1.6 GW of new wind capacity in 2023, bringing the province’s total to more than 4.4 GW. In Québec, plans are underway to triple wind capacity to over 10 GW by 2035, while Atlantic provinces such as Newfoundland and Labrador, and Prince Edward Island boast some of the highest wind speeds on the planet. New offshore wind frameworks in Newfoundland and Labrador, Nova Scotia, Hydro‑Québec’s 10 GW wind plan, and British Columbia’s oversubscribed clean electricity call all signal strong market demand for capital.
As of January 2025, Canada had some 217 operational solar projects and around 96,000 onsite solar energy installations. Alberta, with its abundant sunshine, well-supported energy market, and skilled workforce, is a prime example of solar’s potential. The province is home to the 94 MW Fox Coulee Solar Farm, alongside numerous other developments led by companies such as Greengate Power. Falling solar panel costs, strong ESG performance, and steady long‑term returns make the province an attractive destination for private capital.
Battery storage is vital for utilities to integrate intermittent renewable energy sources like wind and solar. By storing excess power at times of high supply but low demand, batteries ensure a stable and reliable supply while preventing the wasteful curtailment of renewable generation. This capability also helps maintain grid stability by providing rapid response services, ultimately maximizing the value of renewable energy projects. As renewable deployment expands across the country, so do the opportunities in battery storage. Home to Canada’s most populous city, Toronto, Ontario is the country’s primary location for storage. In 2024, the Ontario government concluded the largest battery storage procurement in Canada’s history. In total, the province is home to a storage fleet of 26 facilities with a combined capacity of 2.92 GW. These projects include the 250 MW Oneida Energy Storage facility, Canada's largest battery storage project to date, ensuring renewable grids retain stability.
Canada’s increasing battery storage focus
Hydro
Key
Canada-wide total planned capacity
55,797 MW
Wind
Solar
Biomass
Geothermal
Canada’s ranking for global electricity exports
$10 billion allocated to clean power, actively funding numerous clean energy projects.
Canada Infrastructure Bank:
$6.7 million for the Nunavut territory’s first wind project.
Since 2021, SREPs has approved 71 deployment projects, adding over 2.7 GW of renewable energy and 496 megawatts (MW) of energy storage capacity.
A $15 billion arm's-length investment vehicle designed to attract private capital. Funds are available for projects in carbon capture, utilization, and storage (CCUS); electrification and low-carbon electricity; hydrogen and biofuels; clean technology; and low-carbon supply chains.
$55 million for Montreal-based dcbel Inc.’s smart home energy technology.
Annual instalations
Canada’s growing wind and solar capacity
Growth of Canada’s total wind, solar and storage capacity from 2019 to 2024
Source: Canadian Renewable Energy Association
46%
Canada’s renewable energy future
As electricity demand surges – both from AI data centres and a broader decarbonizing economy – there is a need for significant expansion in renewable generation and technologies.
installed capacity of wind, solar and energy storage across Canada at the end of 2024
24 GW
Battery storage is vital for utilities to integrate intermittent renewable energy sources like wind and solar. By storing excess power at times of high supply but low demand, batteries ensure a stable and reliable supply while preventing the wasteful curtailment of renewable generation. This capability also helps maintain grid stability by providing rapid response services, ultimately maximizing the value of renewable energy projects. As renewable deployment expands across the country, so do the opportunities in battery storage. Home to Canada’s most populous city, Toronto, Ontario is the country’s primary location for storage. In 2024, the Ontario Government concluded the largest battery storage procurement in Canada’s history. In total, the province is home to a storage fleet of 26 facilities with a combined capacity of 2.92 GW. These projects include the 250 MW Oneida Energy Storage facility, Canada's largest battery storage project to date, ensuring renewable grids retain stability.
Including hydropower and other types of generation, 82% of Canada’s electricity stems from non-emitting sources, aligning with its ambitions for a net zero grid by 2035. Strategic planning aligns with the Canadian Renewable Energy Associations’ projections of at least 10 GW of new wind, solar, and storage by early 2030, with another 5 GW beyond. This translates into over 15 GW of procurements underway or planned, representing an investment exceeding $30 billion directly available.
Ambitions
As of January 2025, Canada had some 217 operational solar projects and approximately 96,000 onsite solar energy installations. Alberta is home to the 94 MW Fox Coulee Solar Farm, alongside numerous other developments led by companies such as Greengate Power. The province is home to the 94 MW Fox Coulee Solar Farm, alongside numerous other developments led by companies such as Greengate Power. Falling solar panel costs, strong ESG performance, and steady long‑term returns make the province an attractive destination for private capital.
Wind energy has outpaced all other forms of new power generation in Canada over the past decade, with nearly 18 GW installed by the end of 2024. As of January 2025, there were 341 wind projects across the country, according to the Canadian Renewable Energy Association. Alberta alone added 1.6 GW of new wind capacity in 2023, bringing the province’s total to more than 4.4 GW. In Québec, plans are underway to triple wind capacity to over 10 GW by 2035, while Atlantic provinces such as Newfoundland and Labrador, and Prince Edward Island boast some of the highest wind speeds on the planet. New offshore wind frameworks in Newfoundland and Labrador, Nova Scotia, Hydro‑Québec’s 10 GW wind plan, and British Columbia’s oversubscribed clean electricity call all signal strong market demand for capital.
As many as 215 clean technology projects are currently under construction or planned, representing $194.2 billion in potential investment. Wind and solar already met over 8% of Canada’s electricity demand in 2023. As of 2024, Canada’s total installed capacity for wind, solar, and storage exceeded 24 GW. As of 2024, Canada’s total installed capacity for wind, solar, and storage exceeded 24 GW. Over the past five years, nearly 4.7 GW of new wind, almost 2 GW of utility‑scale solar, and 200 MW of energy storage has been added.
Current and potential capacity
A country dedicated to renewable power
Canada Infrastructure Bank
$170 million for the Oneida Energy Storage project.
Supports large-scale projects with funding for innovation, technology development and capital investments that modernize production and expand capacity.
Strategic Response Fund (SRF)
Federal incentives
Source: New Economy Canada
Where green energy growth meets financial stability Imagine a country committed to renewable energy growth. Where abundant resources translate directly into significant returns, in a nation that actively encourages expansion through financial support and political stability. Canada offers all this, and for companies looking to create value in wind, solar and battery energy storage, it’s the premier location in North America. With demand for power predicted to surge in the coming decades owing to increased electrification, new technologies and the growth of data centres for AI, Canada offers a tangible, multi-billion-dollar opportunity. Recognizing the scale of the challenge, both levels of government are actively engaging with private companies, fostering partnerships to accelerate the development and deployment of renewable energy solutions. The country’s energy transformation mission of achieving a net zero electricity grid by 2035 will require a sevenfold increase in renewable capacity. Private investment is essential to clean energy, and those who seize this opportunity stand to reap significant returns. Provinces are increasingly turning to private developers to meet demands for electricity supply and storage, in line with ambitious emissions reduction goals. The province of Alberta, for instance, has doubled its renewable generation since 2015, highlighting an expanding market that offers robust returns and strategic positioning where companies can thrive. Looking to the future, British Columbia-based BC Hydro’s expects to award Electricity Purchase Agreements (EPAs) in early 2026. In its most recent Call for Power, a competitive energy procurement process, the corporation seeks to add up to 5,000 Gigawatt hours per year (GWh/year) of additional clean and renewable energy.
Grasp the opportunity: Canada’s renewable energy potential
From large-scale solar and high-capacity wind to massive energy storage facilities, Canada’s geography, infrastructure, and policy environment are converging to power a multi‑billion‑dollar growth market in renewable energy.
Canada Growth Fund
Smart Renewables and Electrification Pathways Program (SREPs)
Lowering risk and fueling new renewable energy projects
All Biomass Geothermal Hydroelectric Solar Tidal Wind
Source: University of Alberta Future Energy Systems
Canada’s world ranking for wind energy capacity
Source: Canadian Renewable Association
#9
Canadian renewable energy projects
Source: University of Alberta
All
Download our guide to learn more about opportunities across the renewable energy sector and how Canada provides support for businesses looking to expand. Canada, where bold feels at home.
Canada’s global ranking in natural gas production
Source: U.S. Energy Information Administration
Top 5
Companies seeking LNG opportunities in Canada will find prospects in west coast liquefaction and export terminals, along with pipelines, specifically designed to serve the burgeoning Asian market. The sector’s rapid growth is exemplified by Phase 1 of LNG Canada, which began shipping LNG to Asia in 2025. A joint venture between Shell, PETRONAS, PetroChina, Mitsubishi and KOGAS, the project has the potential to export up to 14 million tonnes of LNG per annum. Future projects like LNG Canada Phase 2 and Ksi Lisims LNG will collectively boost Canadian production to over a billion cubic feet daily. LNG Canada Phase 2 and Ksi Lisims LNG were two of the first ten projects referred to the Major Projects Office for fast-tracking, and these projects can double Canada’s production of LNG. While these west coast projects are supplying Canadian LNG to Asia, there is also government commitment to ship LNG to European markets from the east coast.
Growth opportunities in LNG
Canada boasts a long-established oil and gas knowledge base, supported by a large and highly educated workforce, ensuring operational excellence and innovation.
Deep industry knowledge:
As a country with a best-in-class low LNG carbon-footprint, Canada is committed to good environmental practices. These include stringent methane regulations and the increasing use of clean hydropower for electrified transmission and liquefaction processes. The oil and gas sector in Canada invests $9.2 billion annually in environmental protection, underscoring its commitment to sustainability. “Canadian LNG has among the lowest upstream emissions globally, backed by strict methane rules and an 80% non-emitting electricity grid.” – Minister of Energy and Natural Resources of Canada.
Lower carbon intensity:
Canada offers unparalleled political and economic security, characterized by predictable regulations and a strong track record of successfully delivering large-scale energy projects. “When you buy Canadian LNG, you are buying a supply that cannot be turned off by politics or coercion, from a country that is a G7 democracy,” says Tim Hodgson, The Minister of Energy and Natural Resources of Canada.
Stable investment climate:
Canada’s west coast ports offer significantly shorter shipping routes to Asia compared to the U.S. Gulf Coast or the Middle East. This translates directly into lower costs and faster delivery times. Activities are also underway to develop LNG facilities in Eastern Canada, primarily to serve the European market, further diversifying Canada's export reach.
Shorter routes, lower carbon, experience – Canada’s LNG advantages
Canada's provinces are working together to advance LNG as a national economic priority to unlock new, vital export routes to Europe. Thereby creating future opportunities for companies to diversify their market reach and capitalize on emerging demands.
A significant step in this direction was taken in July 2025, when the Canadian provinces of Ontario, Alberta, and Saskatchewan signed a Cooperation MOU.
While the west coast focuses on Asia, early-stage efforts are underway to develop LNG facilities in Eastern Canada, specifically to serve growing European markets.
Meeting growing Asian and European demand for LNG Businesses are keenly aware of the surging appetite for LNG, especially in Asia and Europe. Canada Action cites a 60% increase in global LNG demand by 2040. This growth is largely fueled by robust economic expansion in Asia, as well as the escalating power demands of AI and data centres. There’s also a growing recognition that LNG will be an integral part of the energy transition. These trends mean Canadian LNG presents significant opportunities for businesses operating across the value chain in areas such as liquification, pipelines and shipping. Canada is perfectly positioned to meet this rising demand, with well over a century of expertise in oil and gas. It also has the skills and political will to decarbonize traditionally emissions-intensive industries. Unlike many key oil and gas producers, Canada actively welcomes private investment, making it an ideal partner for foreign companies seeking growth and stable returns. The government of Canada is demonstrating a commitment to move forward with nation-building projects. The newly-created Major Projects Office is dedicated to fast-tracking large-scale projects and limiting the federal regulatory review period to two years. Western Canada is the primary source for Canada's natural gas, with 98% produced in the western provinces of Alberta and British Columbia. The LNG Canada facility is strategically located to offer energy companies prime access to global markets. A robust network of pipelines and infrastructure already moves gas across the country for export, mitigating infrastructure risk.
Stable, responsible and commited to growth
Canada’s abundant natural gas reserves, politically and economically stable environment, deep-rooted industry experience, and a transparent regulatory system make it a uniquely reliable producer and supplier of liquified natural gas (LNG). Asian markets are already receiving LNG shipments from Canada’s west coast, while short, deep water port connections offer the promise of future shipping to Europe.
Laying the groundwork for LNG exports to Europe
Canada: a rising power in LNG
Canada's competitive operating costs and business-friendly tax environment further enhance the economic viability of these projects.
Both federal and provincial governments in Canada are actively working to de-risk LNG investments through a range of tax credits and incentives.
A prime example is the Strategic Response Fund, which supports large-scale projects through funding for innovation and industrial transformation. Cedar LNG Partners LP, for instance, received $200 million in funding for its project under the SRF’s predecessor, the Strategic Innovation Fund.
Unlocking the future of LNG supply with government support
Potential capital investment into seven LNG export and infrastructure projects in British Columbia
$109 billion
LNG export projects underway on Canada’s west coast
7
tonnes per annum of LNG production capacity under development in British Columbia
50.3 million
lower carbon intensity than the global LNG average
Source: Boston Consulting Group
Canadian Federal Government funding for Cedar LNG Partners LP
$200 million
Canadian West Coast facilities - LNG export volumes
14
Mtpa
LNG Canada Phase 1 Kitimat, BC
LNG Canada Phase 2 Kitimat, BC
Ksi Lisimi LNG Gingolx, BC
Cedar LNG Kitimat, BC
2.1
Woodfibre LNG Squamish, BC
2.5
Tilbury LNG Phase 2 Delta, BC
2.7
Summit Lake PG LNG Prince George, BC
Stable, responsible and ready for growth
Canada’s abundant natural gas reserves, politically and economically stable environment, deep-rooted industry experience, and a transparent regulatory system make it a uniquely reliable producer and supplier of liquified natural gas (LNG). Asian markets are already receiving LNG shipments from Canada’s west coast, while short, deep water port connections offer the promise of future shipping to Europe. Meeting growing Asian and European demand for LNG Businesses are keenly aware of the surging appetite for LNG, especially in Asia and Europe. Canada Action cites a 60% increase in global LNG demand by 2040. This growth is largely fueled by robust economic expansion in Asia, as well as the escalating power demands of AI and data centres. There’s also a growing recognition that LNG will be an integral part of the energy transition. These trends mean Canadian LNG presents significant opportunities for businesses operating across the value chain in areas such as liquification, pipelines and shipping. Canada is perfectly positioned to meet this rising demand, with well over a century of expertise in oil and gas. It also has the skills and political will to decarbonize traditionally emissions-intensive industries. Unlike many key oil and gas producers, Canada actively welcomes private investment, making it an ideal partner for foreign companies seeking growth and stable returns. The government of Canada is demonstrating a commitment to move forward with nation-building projects. The newly-created Major Projects Office is dedicated to fast-tracking large-scale projects and limiting the federal regulatory review period to two years. Western Canada is the primary source for the country’s natural gas, with 98% produced in the western provinces of Alberta and British Columbia. LNG Canada facility, are strategically located to offer energy companies prime access to global markets. A robust network of pipelines and infrastructure already moves gas across the country for export, mitigating infrastructure risk and are strategically located to offer energy companies prime access to global markets.
announced projects to export Canadian-produced hydrogen to global markets
23
Source: New Climate Institute
of global energy consumption could comprise of hydrogen by 2050
Canada offers unparalleled political and economic security, characterized by predictable regulations and a strong track record of successfully delivering large-scale energy projects. “When you buy Canadian LNG, you are buying a supply that cannot be turned off by politics or coercion, from a country that is a G7 democracy,” says The Minister of Energy and Natural Resources of Canada.
Million tonnes per annum (Mtpa)
Canada is estimated to have more than 389 gigatonnes of prospective onshore storage, located mostly in Saskatchewan, Alberta, and Manitoba
Download our guide to learn more about opportunities across the LNG sector and how Canada provides support for businesses looking to expand. Canada, where bold feels at home.
Source: Canada’s National Observer
