Canada to become an increasingly important supplier of oil to the global market

Caspian Energy (CE): Canada is one of the countries with the world’s largest oil and gas reserves in the world. How would you assess the current export potential of Canada? 

Greg Rickford, Minister of Natural Resources of Canada: Canada is blessed with the 3rd largest oil reserves in the world, with more than 167 billion barrels of Canada’s oil sands crude alone. Canada is already the 5th largest producer of oil and is proven to become an even larger supplier of energy to the world. Canada is also the 5th largest producer of natural gas in the world and is well positioned to become a large global supplier of liquefied natural gas (LNG) with exports anticipated for as early as 2017.

With our extensive oil and gas reserves and our unparalleled expertise, Canada is well-positioned to contribute to meeting rising global energy demand as a reliable, secure and responsible supplier of energy to world markets. To support further development, the Government of Canada has put in place its plan for Responsible Resource Development which is taking key steps to help diversify Canada’s energy export markets while strengthening environmental protection and Aboriginal engagement and participation in resource development.

With a long history of reliable bulk energy exports, Canada’s oil and gas export potential will continue to grow.