EU President Says There’s a Market for “Reliable” Canadian Oil & Natural Gas in Europe

EU President Says There’s a Market for “Reliable” Canadian Oil & Natural Gas in Europe

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EU President Says There’s a Market for “Reliable” Canadian Oil & Natural Gas in Europe cover

European Parliament president Roberta Metsola joins a growing list of foreign government officials who have said there is a market for conventional Canadian energy overseas.

In an interview with CTV News, Metsola signalled that European Union (EU) members may even be willing to pay a higher price for Canadian energy, as part of a diversification strategy away from less reliable suppliers [1].

Vassy Kapelos, CTV’s host, asked the president directly whether it is her opinion that Europe could be a customer for Canada’s conventional energy exports, with Metsola responding “yes.”

“If you see how we have pivoted over the last years, we found ourselves when Russia invaded Ukraine, that we were completely, to a certain extent, reliant on a very unreliable partner for gas and oil, and that meant that we have had to divest, uncouple ourselves, and we’re almost completely done,” she continued telling Kapelos.

“To do that, we need to find alternative sources.”

Kapelos then asked if Europe is prepared to pay more for a reliable, trusted supply source for that energy, such as Canada, with Metsola saying those conversations are happening “right now,” via CTV’s reporting.

The president went on to explain that Europe has had no choice but to rely on “unreliable partners” because of their regional proximity.

“That’s why we talk about joint partnerships,” Metsola continued.

“We don’t only talk about defence; we don’t talk about security. We talk about strategic autonomy, which also means that we need reliable and predictable sources of supply, and Canada comes into the mix.”

A few weeks prior, Polish Ambassador Witold Dzielski was interviewed by the CBC about Canada’s inability to see a “business case” for liquefied natural gas (LNG) exports until now.

“Is Poland interested in Canada’s natural resources and LNG in particular?” asked JP Tasker, CBC’s Host.

“Yeah,” responded Dzielski.

“Well, remember, some of that LNG that is coming from the United States to Europe to Poland is also Canadian LNG. But, it’s being sold for a much higher price… Yes, we are constantly interested. We would like the Canadian LNG market to open to Europe. We would like to see the Canadian gas flowing to the east coast of Canada, and the Canadian gas flowing in European pipelines,” Dzielski continued.

Since Dzielski was appointed as Poland’s Ambassador to Canada in 2022, he and many other European officials have said they are very interested in Canadian LNG. Former President Andrzej Duda said his country would “of course” be interested in buying Canada’s LNG if it were made available when visiting from overseas early last year.

Kyriakos Mitsotakis, Greece’s Prime Minister, and Olaf Scholz, former Chancellor of Germany, have also expressed their desire for Canadian LNG. Past and current officials from South Korea, Japan, Taiwan, and the Philippines have done so as well, expressing interest in sourcing natural gas from Canada since 2022. Meanwhile, cargo offtakes from the Trans Mountain Pipeline expansion have included shipments to buyers in Japan, South Korea, and other parts of Asia.

If anything should be abundantly clear to Canadians, it’s that the world wants – and needs – more of our oil and natural gas.

Natural resource development in Canada creates jobs for families and supports communities while generating billions in government revenues, which we need to reduce class sizes, improve healthcare access, and support our emergency responders.

With global natural gas demand projected to grow by more than 20% through 2050, and LNG demand expected to double [2], Canada has an immense opportunity to step up and provide the world with the energy it needs. Oil demand is also projected to rise to 105 million barrels per day by 2050, up 5 million bpd over 2024 levels [2].

Our trade partners have repeatedly asked us to provide them with a safe, reliable, and democratic energy supply and to assist in their efforts to diversify away from less trustworthy sources.

It’s time for Canada to answer the call.

Our allies in Europe and Asia are not just asking for our energy—they are pleading for a stable, reliable partner to help secure their energy future. By expanding our oil and natural gas infrastructure, including LNG export facilities and new oil pipelines, Canada can strengthen our position as a global energy leader while supporting the energy security of nations worldwide. We also need to build power lines, ports, railways, and roads.

This is more than a business opportunity; it’s a chance to build stronger international partnerships, boost our economy, and demonstrate our commitment to being a major provider of the reliable energy the world needs.

Let’s seize this moment. Canada has the resources, the expertise, and the capability. Now, we must act decisively to ensure that Canadian oil and natural gas flow to those who need it most, powering a more secure world for generations to come.

SOURCES:

1 - https://www.ctvnews.ca/politics/article/european-parliament-president-says-theres-a-market-for-canadian-oil-and-gas-in-europe/

2 - https://corporate.exxonmobil.com/sustainability-and-reports/global-outlook