• 2 hours British Utility Companies Brace For Major Reforms
  • 6 hours Montenegro A ‘Sweet Spot’ Of Untapped Oil, Gas In The Adriatic
  • 8 hours Rosneft CEO: Rising U.S. Shale A Downside Risk To Oil Prices
  • 9 hours Brazil Could Invite More Bids For Unsold Pre-Salt Oil Blocks
  • 10 hours OPEC/Non-OPEC Seek Consensus On Deal Before Nov Summit
  • 11 hours London Stock Exchange Boss Defends Push To Win Aramco IPO
  • 12 hours Rosneft Signs $400M Deal With Kurdistan
  • 15 hours Kinder Morgan Warns About Trans Mountain Delays
  • 21 hours India, China, U.S., Complain Of Venezuelan Crude Oil Quality Issues
  • 1 day Kurdish Kirkuk-Ceyhan Crude Oil Flows Plunge To 225,000 Bpd
  • 1 day Russia, Saudis Team Up To Boost Fracking Tech
  • 2 days Conflicting News Spurs Doubt On Aramco IPO
  • 2 days Exxon Starts Production At New Refinery In Texas
  • 2 days Iraq Asks BP To Redevelop Kirkuk Oil Fields
  • 2 days Oil Prices Rise After U.S. API Reports Strong Crude Inventory Draw
  • 2 days Oil Gains Spur Growth In Canada’s Oil Cities
  • 2 days China To Take 5% Of Rosneft’s Output In New Deal
  • 2 days UAE Oil Giant Seeks Partnership For Possible IPO
  • 2 days Planting Trees Could Cut Emissions As Much As Quitting Oil
  • 2 days VW Fails To Secure Critical Commodity For EVs
  • 3 days Enbridge Pipeline Expansion Finally Approved
  • 3 days Iraqi Forces Seize Control Of North Oil Co Fields In Kirkuk
  • 3 days OPEC Oil Deal Compliance Falls To 86%
  • 3 days U.S. Oil Production To Increase in November As Rig Count Falls
  • 3 days Gazprom Neft Unhappy With OPEC-Russia Production Cut Deal
  • 3 days Disputed Venezuelan Vote Could Lead To More Sanctions, Clashes
  • 3 days EU Urges U.S. Congress To Protect Iran Nuclear Deal
  • 4 days Oil Rig Explosion In Louisiana Leaves 7 Injured, 1 Still Missing
  • 4 days Aramco Says No Plans To Shelve IPO
  • 6 days Trump Passes Iran Nuclear Deal Back to Congress
  • 6 days Texas Shutters More Coal-Fired Plants
  • 6 days Oil Trading Firm Expects Unprecedented U.S. Crude Exports
  • 7 days UK’s FCA Met With Aramco Prior To Proposing Listing Rule Change
  • 7 days Chevron Quits Australian Deepwater Oil Exploration
  • 7 days Europe Braces For End Of Iran Nuclear Deal
  • 7 days Renewable Energy Startup Powering Native American Protest Camp
  • 7 days Husky Energy Set To Restart Pipeline
  • 7 days Russia, Morocco Sign String Of Energy And Military Deals
  • 7 days Norway Looks To Cut Some Of Its Generous Tax Breaks For EVs
  • 7 days China Set To Continue Crude Oil Buying Spree, IEA Says
Alt Text

Oil Prices Spike On Middle East Tensions

Oil prices jumped upwards on…

Alt Text

Are Combustion Engines Reaching Peak Demand?

As countries announce plans to…

Alt Text

The U.S. Shale Play To Watch In 2018

The original U.S. shale gas…

Canada Continues Wooing Asian Energy Markets

Canada Continues Wooing Asian Energy Markets

Asian countries continue to line up for Canadian energy to which the United States is unable to commit.  This week Japan's prime minister Shinzo Abe met with his Canadian counterpart Stephen Harper to discuss the potential for shipping liquefied natural gas (LNG) across the Pacific Ocean to Japan.  Although no firm agreement was announced, Japanese newspapers speculated that the first Canadian exports might reach Japan as early as 2018 and no later than 2020.

This reflects, among other things, the greater difficulty that Canada has had in developing LNG export terminals.  Low prices for gas from western Canada is another problem, and although there is reason to believe in a secular rise towards higher prices, U.S. producers are less affected by the current levels.  On the other hand, as prices rise, there are fears in Canada of a typical bust-to-boom scenario; and for this, there is fear that Canada's gas producers are and will continue to be ill-prepared, not even able to take advantage of the anticipated boom.

Related article: Despite Shale, OPEC Still Matters

Nevertheless, India is also getting in line for Canadian oil as well as gas.  India's High Commissioner Nirmal Verma was also in Ottawa this week to sign a nuclear cooperation agreement allowing uranium from Canada to be sold to India as reactor fuel.  India seeks to triple in electricity production in the next decade, in part by building as many as a dozen new reactors.

Agreement was actually reached three years ago, but the additional time is required in order to establish a process for independent verification that the fuel is used for peaceful purposes. In 1974, India used a reactor supplied by Canada to create the fuel for a nuclear bomb test.

India is even willing to consider investment in the Energy East Pipeline, even as TransCanada has had to delay its filing of an application to the National Energy Board from this year until next year.  

Environmental concerns that need to be addressed during the regulatory process are partly responsible for the delay, but also it is now foreseen that the original estimate of 850,000 barrels per day (bpd) is low and should be increased to 1.1 million bpd.

Related article: Canada to Drill for Offshore North Atlantic Oil

Energy talks between the two countries were elevated to the ministerial level last year when our visit India, and India's energy minister will be visiting Ottawa later this month to continue the discussions.

The oil-sands are doing slightly better, as the first crude-by-rail unit train terminal is set to start transporting 50,000 bpd to the U.S. market next month.  This amount will rise at least tenfold by the end of next year.  Meanwhile, an official from Enbridge says that his company expects a decision from the federal government ought is Northern Gateway pipeline by mid-2014 and an in-service date four years later.

By. Robert M Cutler




Back to homepage


Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News