Oil and Nat Gas is the future til 2050 at least This time next year, construction could be complete on both the Trans Mountain Expansion and Coastal GasLink pipelines, setting up Canada for the first major deliveries of its responsibly produced oil and gas to the world. Overall, Coastal GasLink is 80 per cent complete and TMX has reached 73 per cent completion, according to new project updates.
TMX will significantly increase capacity for Canada to export oil from Alberta through the Westridge Marine Terminal at Burnaby, B.C.
Both projects will help meet growing demand for oil and gas, particularly in Asia.
The International Energy Agency’s latest outlook sees natural gas demand in the Asia-Pacific region growing by 27 per cent between 2021 and 2050. Oil demand will also continue to grow, increasing by 10 per cent over the same period.