Page 41 - InvestinAlberta-EDA-2024-2

ENERGY & PETRO- CHEMICALS
There is no denying that Alberta is an energy superpower. In 2022, Alberta produced 486,000 barrels of oil... per day. And while Alberta is well-known for its oil production,
it’s also a powerhouse in natural gas, producing 60 per cent of Canada’s output.
Alberta has the country’s largest refining and petrochemical manufacturing centre, Alberta’s Industrial Heartland, which accounts for $40 billion in investment. The province is also home to significant deposits of natural gas, which allow Alberta’s supply to remain cost-effective and competitive, providing an affordable, reliable flow for manufacturing. Alberta produces 88 per cent of the Canadian propane produced from natural gas.
And Alberta keeps on going. Home to four ethane-cracking plants, Alberta has the capacity to produce 80 per cent of Canada’s total ethylene production.
Alberta is also embracing renewable energy. According to the Canadian Renewable Energy Association, Alberta has the fastest growing wind and solar sectors in the country, with more than $3 billion in investments.
And Alberta is moving quickly to develop a hydrogen economy, knowing that this is a global sector expected to be worth trillions of dollars by 2050.
No matter if it’s through oil, wind or hydrogen, Alberta is powering the world.
EMBRACE.ELEVATE.ENVISION. 2024 INVESTINALBERTA 41