Pipeline and environmental projects will fire up 2023 into a growth year in Canadian natural gas and oil investments, according to a major industry trade group.

The Canadian Association of Petroleum Producers (CAPP) is forecasting investments totaling US$30 billion total this year, up by $3 billion from 2022.

“The year 2023 may be one of the most pivotal moments in time for Canada’s oil and natural gas industry,” CAPP CEO Lisa Baiton said. “With an emerging liquefied natural gas export industry, the expected completion of the Trans Mountain expansion (TMX) and billions of dollars in emissions reduction investments waiting to be unlocked, Canada is positioned to play a much larger role.”

TMX, now entering final building stages, is to nearly triple capacity to 890,000...