The natural gas sector in British Columbia has spent $10.8 billion on supply chain expenditures from 2018 to 2024, according to the latest iTOTEM Analytics report, “Natural Gas Builds B.C.” released by the Canadian Association of Petroleum Producers (CAPP). The report highlights the growing role of natural gas in the province’s economy, showing substantial investments in local businesses, infrastructure, and Indigenous communities.
Between 2022 and 2024, $6.1 billion was spent across 2,250 B.C.-based companies in 120 municipalities, ranging from engineering firms in Victoria to Indigenous-owned construction companies in northern B.C. Indigenous businesses alone received $832 million in goods and services, reflecting a 150% increase in supply chain spending from 2022 to 2024.
CAPP President Lisa Baiton emphasized that the natural gas sector is a key economic engine for the province, creating high-quality jobs and contributing $14 billion to B.C.’s GDP in 2024. However, the report also calls for the provincial government to address the regulatory and fiscal challenges that hinder future growth and investment.
In addition to economic contributions, the sector has also made significant community investments, donating over $52 million since 2018 to support 245 organizations across 35 municipalities and 10 Indigenous communities. The report also underscores the increasing role of Indigenous entrepreneurs in the industry, as the natural gas sector continues to be a partner in economic reconciliation and long-term community prosperity.
For more information, the full report is available on the CAPP website.
Comments