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Western LNG says two of those communities — the Metlakatla First Nation and Lax Kw’alaams Band — have in turn withdrawn their legal challenge to the federal approval of the $10-billion project.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]
Five things to watch for in the Canadian business world in the coming week
TORONTO - Five things to watch for in the Canadian business world in the coming week: Energy conference The Global Energy Show is set to kick off in Calgary on Tuesday. Among the scheduled speakers are federal Natural Resources Minister Tim Hodgson, the premiers of Alberta, Saskatchewan and the Northwest Territories and the CEO of Abu Dhabi National Oil Co.'s upstream division. Trade figures Statistics Canada will release its international merchandise trade numbers for April on [Read more]
Trans Mountain expects oil shipments to reach 90 per cent of capacity in Q2
CALGARY - Trans Mountain Corp. says oil shipments through its pipelines reached 83 per cent of capacity in the first quarter and is expected to rise to 90 per cent in the second quarter. The Calgary-based company that operates the pipeline from Alberta to the British Columbia coast says about 737,000 barrels of crude oil passed through the pipeline per day in the three-month period starting this year. That is down from the 757,000 barrels per day reported in the same quarter last year, but [Read more]
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