Workers place pipe during construction of the Trans Mountain pipeline expansion in Abbotsford, B.C., on Wednesday, May 3, 2023. THE CANADIAN PRESS/Darryl Dyck, Canada 's oil and gas executives are eyeing higher prices spurred by the first new major take-away capacity in over a decade. That has stock analysts calling for shares to push higher as producers look to new foreign markets.
Moving oil and gas out of Western Canada via pipeline to overseas markets has been an elusive goal for the industry, which relies on exports to the United States.) due to its heavier grade and transportation costs. In 2018, Alberta’s government temporarily limited oil production in the province when that price gap fell to more than US$40 per barrel due to scarce takeaway capacity.
Carlsen says LNG Canada will absorb a “quite substantial” chunk of natural gas production in Canada. For Birchcliff, he says that means accessing higher “world pricing” for its product.
Oil And Gas Canada Oil Production Pipeline Capacity Trans Mountain Pipeline Canadian Association Of Petroleum Producers Oil
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