OTTAWA, ONTARIO--(Marketwired - May 6, 2014) - Natural Resources Canada
The Honourable Greg Rickford, Canada's Minister of Natural Resources and Minister for the Federal Economic Development Initiative for Northern Ontario, today concluded his successful participation in the two-day special G7 Energy Ministers' Meeting in Rome, where he reinforced Canada's reputation as a reliable, secure and responsible supplier of energy to the world.
The G7 meeting was driven by events in Ukraine, which have underscored the critical role that energy security plays in economic and national security and global stability.
Minister Rickford's participation in the G7 meeting also complements the Harper Government's priority of diversifying markets for Canada's natural resources. Minister Rickford highlighted Canada's support for responsible energy use and its ongoing investments in energy innovation and efficiency. He emphasized that global energy demand is projected to increase in the decades to come, and the responsibility of reliable suppliers like Canada to fulfil these needs through responsible energy development and use. Meeting global energy needs starts with responsible resource development, including environmental protection. It also requires safe and modern infrastructure to bring resources to markets and create new options for suppliers and users of energy.
Throughout discussions on the development and modernization of infrastructure, including constructive meetings with Dr. Ernest Moniz, the U.S. Secretary of Energy, and other ministers, Minister Rickford pointed to Canada's current proposals for new infrastructure. These include pipeline proposals for crude oil totalling more than three million barrels per day, in addition to 11 liquefied natural gas (LNG) export licences at various stages of approval, representing up to 165 million tonnes of LNG export capacity annually. These proposals represent potentially significant contributions to growing global markets. Canada's ability to support customers in Asia, Europe and North America would be enhanced if these projects are approved and built.
With its abundant resources and commitment to open investment and trade, Canada is well positioned to support partners and help meet global needs .During his meetings, Minister Rickford emphasized that economic growth and energy security are best supported by open and transparent energy markets. He highlighted that Canada can contribute to global energy security through energy innovation across all energy sources. It has the capacity to deploy its energy know-how, technology and supply chain in partner countries to advance responsible resource development and use.
Finally, Minister Rickford and Italy's Minister of Economic Development, Federica Guidi, issued a joint statement regarding plans to facilitate cooperation and the exchange of information to strengthen and expand their bilateral commercial energy relationship. The statement also identifies potential areas for collaboration, including energy diversification and efficiency; enhanced trade and investment in the field of hydrocarbons; smart grid technologies; and renewable energy.
- Between 2011 and 2035, global energy demand is forecast to increase by 33 percent. Canada is well positioned to support these emerging needs and contribute to global energy security.
- In 2011, 77 percent of Canada's electricity was generated from non-emitting sources - first in the G7.
- Between 2005 and 2011, Canada's economy grew 8.4 percent while greenhouse gas emissions fell 4.8 percent.
- Canada is the fifth-largest natural gas producer in the world, with marketable resources of up to 37 trillion cubic metres.
- Canada has the third-largest reserves of crude oil in the world, including 168 billion barrels in Canada's oil sands alone, and is the fifth-largest producer.
"In a time where many countries are faced with the dual challenges of increasing demands for energy and an unstable energy supply, Canada is a reliable, secure and responsible source of energy. Our government is committed to expanding markets for our energy products to Asia and Europe, creating jobs and prosperity for Canadians. Canada will collaborate fully with its G7 and global partners in bolstering energy security and global stability."
Canada's Minister of Natural Resources and Minister for the Federal Economic Development Initiative for Northern Ontario
- Joint Statement by Canada and Italy on Energy Cooperation
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