NGW Magazine: Canada Sets Its Sights on Global Markets
The US shale gas revolution has left Canada high and dry, as its resources have not been competitive. Stronger oil prices however could see interest revive – at least in in west coast projects.
In the last few years Canada's biggest customer for oil and gas – the US – has become its biggest competitor in terms of hydrocarbons export. “And that means that we're looking elsewhere to do business,” explained the CEO of JuneWarren-Nickle's (JWN) Energy Group, Bill Whitelaw. “Because in the last few years, as the Americans have ramped up their shale production they have required less and less of our goods. So we're looking to get better pricing by looking to the international markets,” the energy intelligence specialist said.
Towards furthering that effort, Whitelaw and others recently spoke at the Canadian embassy in Budapest, Hungary about opportunities across the Atlantic Ocean into Canada as well as possibilities in Europe for Canadian companies in light of the EU-Canada Comprehensive Economic and Trade Agreement, which was adopted in October (NGW 4, page 25).
Canada, he noted, is third in terms of global oil and gas reserves and their production is not controlled by state-controlled concerns. This, he said, positioned Canada as a global player...
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