CALGARY — The Honourable Joe Oliver, Canada’s Minister of Natural Resources, today delivered keynote remarks at the Canada LNG Export Forum. Addressing international stakeholders, Minister Oliver highlighted Canada’s potential as a responsible and secure liquefied natural gas (LNG) producer and the importance of diversifying Canada’s energy markets.
“Canada’s plan for Responsible Resource Development is further enhancing Canada’s reputation as a safe, stable and environmentally responsible producer of energy,” said Minister Oliver. “As the world’s fifth-largest natural gas producer, Canada is also well-positioned to take advantage of the enormous opportunity to supply international markets.”
Canada’s plan for Responsible Resource Development has introduced new beginning-to-end timelines for project reviews and engages Canadians to introduce new effective measures to maintain and enhance its reputation of environmental protection. Canada also represents a stable and secure supplier for countries with a need to diversify their sources of supply.
This month, the World Economic Forum ranked Canada’s financial system as the safest and soundest in the world for the sixth straight year. The Organisation for Economic Co-operation and Development also revised its economic growth forecast projecting Canada to lead the G7 in economic growth for 2013.
According to the International Energy Agency, global demand for energy is expected to rise by more than a third by 2035. There is tremendous complementarity between Canada’s need to diversify its energy exports and the Asia–Pacific’s need for energy sources.
“All of Canada’s natural gas exports are currently to the United States, a country that will require less Canadian gas in the future,” said Minister Oliver. “Therefore, we must reach new markets in countries that urgently need energy to generate revenue for critical Canadian social programs like health and education.”
The Conference Board of Canada estimates that natural gas production in Canada will add another $576 billion to our economy as a whole between 2012 and 2035.
The Canada LNG Export Forum brings together major energy stakeholders — global industry leaders, members of government, representatives of Aboriginal communities, Asian and European buyers, and exporters and investors. By sharing best practices, the members intend to develop strategies to promote LNG projects in Canada to create jobs, growth and long-term prosperity.