Canada Seeks New Energy Markets
The article discusses Canada's plan to strengthen its presence in global energy markets and reduce its heavy reliance on the United States, prompted by trade pressures and tensions in the Middle East. Canada, the world's fourth-largest oil producer and fifth-largest natural gas producer, aims to direct approximately 30% of its oil exports to Asian markets by 2034 through pipeline projects and expansions in the liquefied natural gas (LNG) sector. The goal is to enrich the global market and decrease dependency, which currently exceeds 90%, on the U.S. market. The plans include speeding up project licensing procedures and reducing review times, along with investments that will double the capacity for transporting oil and natural gas, leading to a significant shift in Canada's oil and gas export map.
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