Canada: Oil and gas exports up 300,000 barrels this year

“Canada’s ability to increase oil and gas exports by up to 300,000 barrels per day by the end of this year to help improve global energy security from the turmoil caused by Russia’s invasion of Ukraine,” he said. Country Natural Resources, Jonathan Wilkinson.

Canada is also considering ways to replace Russian gas with domestic liquefied natural gas at the request of European countries, the Canadian minister added from Paris, where he is attending talks at the headquarters of the International Atomic Energy Agency. (IEA).

The talks, involving the United States and its allies, are aimed at finding ways to alleviate the turmoil in international energy markets caused by Western sanctions against Russia for its attack on Ukraine.

Canada, the world’s fourth-largest producer of crude oil, is keen to help boost long-term energy security as countries that have so far relied on Russian oil and gas seek alternatives amid sanctions.

Wilkinson said Canada could increase oil exports by up to 200,000 barrels a day and gas exports by up to 100,000 barrels a day this year.

“Our European friends and allies need Canada and others to be more proactive,” said Wilkinson. , he added.

Canada currently exports about 4 million barrels a day to the United States, a small portion of which is re-exported abroad.

Wilkinson added that Canada is in talks with European countries to develop more liquefied natural gas projects. Canada does not currently export LNG, but a consortium of companies led by Shell is building a large plant on the West Coast.

Source: Capital

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