Canada and the EU want an energy alliance. What would it look like?
Prime Minister Mark Carney was in Strasbourg, France, this week where he and European Union leadership discussed strengthening ties on several fronts.
Canada and the European Union are exploring the possibility of forming an energy alliance to enhance security, according to recent discussions between Prime Minister Mark Carney and EU leaders in Strasbourg, France. The proposal does not necessarily involve cross-Atlantic tankers carrying oil or liquefied natural gas.
Economist Werner Antweiler of the University of British Columbia describes Europe's situation as "precarious" as it seeks to reduce its dependence on Russian energy following the country's invasion of Ukraine in 2022. Antweiler highlights Canada's potential to provide a stable gas supply to Europe through swap contracts. In such contracts, a cargo destined for Asia would be exchanged with one headed toward the EU.
Rachel Doran, the executive director of Clean Energy Canada, sees an opportunity for Canada to supply critical minerals to Europe, aiding the continent's transition towards clean power sources and away from fossil fuels.
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