Oil & Gas in British Columbia: 23 Facts & Statistics

23 British Columbia Oil & Gas Facts

#1 – B.C.'s oil and gas industry contributed approximately $14 billion to provincial GDP in 2024 – equivalent to 4% of total provincial GDP and 20% of GDP from all goods-producing industries combined ^[1]

#2 – B.C.'s oil and gas industry supported approximately 68,000 direct jobs in 2024, with an average compensation of $189,000 per year – more than 2.4x the provincial average of $77,000 across all industries ^[1]

#3 – Since 1950, the oil and gas industry has paid more than $24 billion in cumulative royalties to the B.C. government, helping fund public services and infrastructure for generations of British Columbians ^[1]

#4 - In 2024, B.C.’s petroleum sector paid $200 million in municipal taxes, supporting local communities across the province ^[1]

#5 – The B.C. government's 2025 budget forecast natural gas royalties of $920 million for the 2025-26 fiscal year, up 59.7% from the prior year ^[4]

#6 - B.C. natural gas royalties are projected to ring in at $1.3 billion for the 12 months ending March 2027 and reach over $1.57 billion by the 2028-29 fiscal year, which would make natural gas the province's largest single royalty contributor ^[5]

#7 – Upstream oil and gas capital investment in B.C. totalled approximately $4.7 billion in 2023, up 25% from $3.7 billion in 2022 ^[1]

#8 – B.C. exported approximately 0.7 MMBOE/d of oil and gas in 2024, worth just over $6 billion and representing more than 10% of the province's total merchandise exports ^[1]

#9 – Across all formations, B.C. has an estimated 532 trillion cubic feet (Tcf) of total marketable natural gas resource and an estimated 3,337 Tcf of total natural gas in place ^[1]

#10 – In 2024, B.C.'s total oil and gas production averaged approximately 1.4 million barrels of oil equivalent per day (MMBOE/d), equivalent to ~16% of Canada's total production on a BOE basis ^[1]

#11 – B.C.'s total oil and gas production has grown by 153% since 2010, making it the fastest-growing hydrocarbon-producing province in Canada ^[1]

#12 – B.C.'s share of Canadian natural gas production has more than doubled – rising from 13% in 2000 to 39% in 2024 – driven by unconventional shale gas development, primarily in the Montney formation of northeastern B.C. ^[1]

Campaign Billboard - Enderby, BC

#13 - The Montney Formation in northeastern B.C. holds approximately 86.26 trillion cubic feet (Tcf) of remaining proven natural gas reserves, equivalent to more than 35 years of supply at current provincial production rates ^[1]

#14 - In addition to the Montney, northeastern B.C. is home to the Horn River Basin, the Liard Basin, and the Cordova Embayment — all significant world-class unconventional natural gas plays ^[1]

#15 – LNG shipped from B.C.'s coast to Asian markets travels significantly shorter distances than competing supply from the U.S. Gulf Coast, giving Canadian LNG a structural cost and time-to-market advantage over key competitors ^[1]

#16 – B.C.'s northeastern natural gas fields sit along the edge of the Western Canada Sedimentary Basin, the geological formation underlying approximately 1.4 million km² of Western Canada and responsible for virtually all of Canada's marketable natural gas production ^[1]

#17 – LNG Canada represents the largest private-sector investment in Canadian history, at a total cost of around $40 billion ^[7]

#18 – In June of 2025, LNG Canada Phase 1 saw its first cargo shipped from the facility, marking Canada’s first at-scale liquefied natural gas (LNG) export; the project set a monthly export record of more than 1 million metric tonnes in April 2026 ^[2][3]

#19 – LNG Canada represents the largest private-sector investment in Canadian history, at a total cost of around $40 billion ^[6]

#20 - As of March 2017, B.C. had a total of 19 proposed LNG export projects (only a handful of which remain), including ^[7]:

• • Aurora LNG
    Location: Digby Island
  • Cedar LNG (under construction)
    Location: Kitimat
  • Discovery LNG
    Location: Campbell River
  • Grassy Point LNG
    Location: Grassy Point, north of Prince Rupert
  • Kitimat LNG
    Location: Kitimat
  • Kitsault Energy project
    Location: Kitsault
  • LNG Canada Phase 1 (operating)
    Location: Kitimat
  • NewTimes Energy
    Location: Prince Rupert area
  • Nisga’a LNG (Ksi Lisims LNG) (pre-construction)   
    Location: north of Prince Rupert
  • Orca LNG
    Location: Prince Rupert
  • Pacific Northwest LNG
    Location: Lelu Island, District of Port Edward
  • Steelhead LNG: Malahat LNG
    Location: Saanich Inlet, near Mill Bay, Vancouver Island
  • Steelhead LNG: Sarita LNG
    Location: Sarita Bay, near Bamfield, Vancouver Island
  • Stewart Energy LNG
    Location: Stewart
  • Triton LNG
    Location: Kitimat or Prince Rupert
  • Watson Island LNG
    Location: Prince Rupert
  • WCC LNG Ltd.
    Location: Prince Rupert
  • WesPac LNG
    Location: Tilbury Island, Delta
  • Woodfibre LNG Project (under construction)
    Location: Squamish

#21 – A healthy B.C. LNG sector could generate $11 billion annually, or $500 billion in economic activity for Canada between 2020 and 2064 ^[7]

#22 – The Trans Mountain pipeline, which spans from Edmonton, Alberta, to Burnaby B.C., extends approximately 1,180 kilometres across the Rocky Mountains to the West Coast, and is Canada’s only major export pipeline to markets beyond the U.S. ^[9]

#23 – British Columbia’s offshore oil and gas reserves are estimated at 9.8 billion barrels and 25.9 trillion cubic feet, although there is no active exploration, development, or production due to long-standing moratoriums ^[10]

Sponsorship - Victoria Grizzlies

The Future of Oil & Gas in British Columbia

The best of British Columbia's natural gas story is still ahead. The province sits on immense reserves that could supply both domestic consumption and LNG exports for decades ^[11]. With new natural gas infrastructure in place and more on the way, B.C. is on the cusp of a generational energy boom.

Royalty revenues are set to surge in the coming years, which is great news for Canadians. The B.C. government's budget projects natural gas royalties will hit $920 million in 2025-26 – up nearly 60% year-over-year – and climb to over $1.57 billion by 2028-29. These critical revenues fund hospitals, schools, and public services for every British Columbian.

LNG Canada is just the beginning, with Phase 1 representing the first wave of B.C.'s LNG potential. Phase 2 would double total capacity to 28 million tonnes per year, with a Final Investment Decision (FID) looking more like a “when,” not an “if,” due to the Strait of Hormuz Crisis. Meanwhile, the Cedar LNG and Woodfibre LNG projects are both advancing toward commercial operations, with expansions already planned or rumoured. The proposed Ksi Lisims LNG project would add a further 12 mtpa of export capacity if the proponent takes a positive FID, with all projects supplied by northeastern B.C.'s Montney natural gas.

B.C. also has a geography advantage no competitor can match. LNG cargoes shipped from Kitimat reach Asian markets faster and with lower shipping costs than competing supply from the U.S. Gulf Coast, giving Canadian LNG an edge in the world's fastest-growing energy markets, including Japan, South Korea, China, and India. And with the cold coastal climate, it takes less energy to turn natural gas into liquid form.

B.C. LNG is a win across the board. How can anyone be against that?

The World Needs B.C. Oil & Gas

The world needs what British Columbians have. Global demand for LNG is rising sharply as countries across Asia and Europe move to reduce dependence on coal and on energy from less stable and less reliable suppliers. British Columbia's natural gas is produced under one of the world’s best regulatory regimes, and is emerging as a major pillar of the provincial and national economy.

B.C.'s natural gas industry is just getting started, and it’s exciting to say the least. Learn more about Canada's energy and natural resource sectors by joining us today!

As true as it's ever been.

📸 from 2019. pic.twitter.com/O7Xt22bbNq

— Canada Action (@CanadaAction) May 7, 2026

SOURCES:

_{1 - https://www.capp.ca/wp-content/uploads/2025/09/BC-Oil-and-Gas-101-September-16-2025.pdf}

_{2 - https://www.lngcanada.ca/news/first-cargo-puts-canada-on-the-map-of-lng-exporting-nations/}

_{3 - https://www.reuters.com/business/energy/lng-canada-exports-hit-1-million-metric-tons-first-time-single-month-2026-05-01/}

_{4 - https://www.bcbudget.gov.bc.ca/2025/pdf/2025_Budget_and_Fiscal_Plan.pdf}

_{5 - https://www.theglobeandmail.com/business/article-bc-budget-natural-gas-forestry-revenue/}

_{6 - https://www.canada.ca/en/innovation-science-economic-development/news/2019/06/government-of-canada-confirms-support-for-largest-private-investment-in-canadian-history.html}

_{7 - https://news.gov.bc.ca/factsheets/factsheet-lng-project-proposals-in-british-columbia}

_{8 - https://www.signal49.ca/wp-content/uploads/woocommerce_uploads/reports/10764_SE_Rising-Tide.pdf}

_{9 - https://www.transmountain.com/}

_{10 - https://cseg.ca/offshore-bc-current-status/}

_{11 - https://resourceworks.com/bc-lng-sector-gets-bigger/}