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‘I think Canadians are seeing what’s going on in Europe and are saying, ‘Look, there must be a way we can help’ ‘
The energy crisis has given a boost to Canada’s fossil-fuel sector, which had been hemmed in for years by slumping prices and tightening environmental restrictions.
Prime Minister Justin Trudeau’s government is attempting to balance exporting more energy to help supply world markets while still making progress on decarbonizing production. Trudeau has targeted a 42 per cent cut to oil and gas emissions by 2030.
Boosting production
A public opinion survey conducted in April by Leger Marketing Inc. for the gas association found 58 per cent of respondents supported exports of LNG from the East Coast, compared to 17 per cent opposed and the remainder unsure. When Europe and the Ukraine war were specifically mentioned, support rose to 63 per cent, according to the online poll.
The same proportion, 58 per cent, also said they would back the construction of new east coast terminals to export gas, with 21 per cent in opposition. That includes 63 per cent support in Atlantic Canada, where any such facility would likely be located.
Natural Resources Minister Jonathan Wilkinson has already pointed to one project that could be in operation by 2025. It would see Spain’s Repsol SA convert an existing LNG import facility in New Brunswick into an export terminal. Most of the infrastructure is already in place, meaning it may not need an extensive regulatory process, the minister said.
Egan — whose association represents Canadian distributors of natural gas — said he’s heard plenty of interest in access to Canadian gas in his own conversations with diplomats from European countries.
“I’ve met with roughly half of them,” Egan said. “The overwhelming response is: Please try to do more, and more quickly. It’s the Europeans who are very blunt about this.”
Trudeau is scheduled to be in Germany later this month for a Group of Seven leaders summit, where European energy security is expected to be a top agenda item.
Merchandise trade data released Tuesday shows Canada had $21.8 billion (US$17.3 billion) in natural gas exports over the last 12 months through April — almost double pre-pandemic levels, and the highest since 2009.
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