Rising gas demand, Canada’s growing LNG export capacity, and why building infrastructure at a competitive cost may matter more than demand in deciding Canada’s energy future.
AI data centers, reshoring and energy security are driving up global energy demand. Meeting that demand takes physical infrastructure: power generation, transmission lines, pipelines and LNG terminals. In this episode of the Pender Podcast, host Laura Baker talks with Shaz Merwat, Energy Lead with RBC’s Economics and Thought Leadership team, about what needs to be built over the next decade and what it means for oil, natural gas and Canada’s place in the global energy system.
00:00
The return of the physical economy and why energy infrastructure is behind it
01:30
What investors often misunderstand about energy demand, and why it’s becoming more regional
05:00
Where oil and natural gas fit over the next decade, and why gas is expected to become the leading energy source by 2040
08:00
What needs to be built: pipelines, transmission and the “last mile” challenge
16:00
Can electricity infrastructure keep up with AI data centers? Bottlenecks, gas turbines and power generated on site
21:30
Canada’s LNG opportunity: 40 to 45 million tonnes of capacity and a route to Asia that avoids every major shipping chokepoint
27:45
How capital discipline has changed the energy sector and its investment profile
34:00
Where the economics look most appealing, and why cheap, abundant natural gas stands out
42:15
Moving beyond extraction: critical minerals, processing and Canada’s chance to capture more value
