CALGARY - The chief executive of AltaGas Ltd. says the company is in talks with customers in India, Vietnam, Taiwan and other Asian markets to supply Canadian propane and butane. Vern Yu said in an interview on the sidelines of the Global Energy Show this week that many places in Asia are "materially short" on those fuels used widely for cooking and transport. He says the United States has historically been the biggest supplier of those products to the region, with the Middle East also [Read more]
N.B. gas plant needed to avoid blackouts by 2028, utility executive says
FREDERICTON - The CEO of New Brunswick's electricity utility says its proposal for a natural gas-powered generating station remains the best option for avoiding blackouts within the next two years. Lori Clark told a legislative committee this morning that the project was fast-tracked with customers' best interests in mind. She says the Crown corporation changed its regular approval methods to speed up the project. Clark's comments come after the province's auditor general issued a [Read more]
Woodfibre LNG head says global buyers recognizing Canada as stable supplier
CALGARY - The CEO of the under-construction Woodfibre LNG project in British Columbia says Ottawa's push to market Canada as a reliable energy supplier is starting to come to fruition. Luke Schauerte made his remarks in an interview on the sidelines of the Global Energy Show in Calgary, and shortly after another B.C. LNG project in development, Ksi Lisims, signed preliminary supply deals with German utilities. He says the global LNG market is sophisticated and complex, allowing for [Read more]
Bank of Canada holds key rate steady in fifth consecutive decision
OTTAWA - The Bank of Canada held its benchmark interest rate steady for a fifth consecutive decision on Wednesday as it tries to support a turbulent economy without letting prices rise unchecked. The central bank’s policy rate remains at 2.25 per cent after the hold, which was widely expected by economists. Bank of Canada governor Tiff Macklem said in prepared remarks that the economy was weaker than expected in the first quarter of the year as U.S. trade policy and the war in Iran spur [Read more]
Ksi Lisims LNG signs benefit agreements with First Nations
The lead developer of the Ksi Lisims liquefied natural gas project planned for the West Coast has announced benefit agreements with three First Nations in northern British Columbia. Houston-based Western LNG says two of those communities — the Metlakatla First Nation and Lax Kw’alaams Band — have in turn withdrawn their legal challenge to the federal approval of the $10-billion project. The third agreement is with the Gitxaala Nation. The benefit agreements cover aspects like economic [Read more]
Merchandise trade surplus $2.7 billion in April as oil prices help boost exports
OTTAWA - Statistics Canada says the country's merchandise trade surplus grew to $2.7 billion in April as higher oil prices helped boost exports to a record high. The agency says the result was the largest surplus since January 2025 and compared with a surplus of $1.8 billion in March. Total exports rose 1.6 per cent in April to reach a record $75.2 billion as exports of energy products rose 9.7 per cent, offset by a 17.5 per cent drop in metal and non-metallic mineral [Read more]
Global Energy Show to kick off with natural resources minister, Alberta premier
CALGARY - The Global Energy Show kicks off today with an address from the federal natural resources minister, followed by sessions featuring a diverse slate of political and corporate leaders from Canada and abroad. Along with Tim Hodgson's speech on "building an energy superpower," Day 1 of the three-day conference is set to include discussions with Alberta Premier Danielle Smith and, later in the day, B.C. Energy Minister Adrian Dix. At last year's event, Smith made an early push for a [Read more]
Feds offer millions in loans to airlines as fuel costs soar. Some don’t want the cash
MONTREAL - The federal government on Monday offered a loan lifeline to airlines struggling to cope with the soaring price of jet fuel, garnering a mixed response from the country's carriers. The new program will let airlines borrow up to $150 million each, as fallout from the Iran war forces them to slash flight schedules and cut profit forecasts. Ballooning fuel costs have put severe pressure on airlines' balance sheets, said Finance Minister FranÇois-Philippe Champagne, who framed the [Read more]
Another European utility looks to lock down supply from Ksi Lisims LNG
Another European utility has expressed interest in purchasing liquefied natural gas from the Ksi Lisims project planned for the northern British Columbia coast. Duesseldorf-based Uniper and Ksi Lisims LNG say they have signed a letter of interest that could see the German company buy two million tonnes of gas a year, with deliveries beginning as early as 2032. The letter of interest outlines key commercial terms for a firmer supply and purchase agreement with Uniper, whose core markets are [Read more]
Fifth straight rate hold expected as Bank of Canada meets Wednesday
Economists expect the Bank of Canada to hold its benchmark interest rate steady for the fifth straight time when it meets Wednesday, but its messaging could shed light on how it is navigating ongoing geopolitical uncertainties. The central bank held its policy rate at 2.25 per cent when it last met in April. Bank of Canada governor Tiff Macklem at the time did not rule out future adjustments depending on how risks play out. He had said "monetary policy may need to be nimble" as the central [Read more]
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