Canada Expands Energy Cooperation with China to Reduce Reliance on US Market
Canada and China announced plans to expand cooperation in the energy sector as Ottawa seeks to boost oil and gas exports to the Chinese market and attract Beijing’s investments in batteries and renewable energy.
During a visit to Beijing, Prime Minister Mark Carney unveiled a new framework for energy trade that includes ministerial dialogue and exploration of opportunities in oil, gas, nuclear power and clean technology.
Natural Resources Minister Tim Hodgson said China had expressed a clear desire for more Canadian energy products, noting that Ottawa is open to further Chinese investment as long as it meets responsible standards.
The shift follows years of diplomatic tensions and comes as US tariffs pushed Canada to diversify its export markets.
Canadian crude shipments to China jumped 84 percent after the expansion of the Trans Mountain pipeline, while Chinese refiners showed growing interest in Canadian oil amid disruptions to Venezuelan supplies.
The two sides also discussed attracting investment from battery giant CATL to develop energy storage and electric vehicle battery manufacturing in Canada.
However, Ottawa has not decided whether to lower its 100 percent tariff on Chinese electric vehicles, a major point of contention, while Carney seeks relief from Chinese duties on Canadian agricultural products.
During a visit to Beijing, Prime Minister Mark Carney unveiled a new framework for energy trade that includes ministerial dialogue and exploration of opportunities in oil, gas, nuclear power and clean technology.
Natural Resources Minister Tim Hodgson said China had expressed a clear desire for more Canadian energy products, noting that Ottawa is open to further Chinese investment as long as it meets responsible standards.
The shift follows years of diplomatic tensions and comes as US tariffs pushed Canada to diversify its export markets.
Canadian crude shipments to China jumped 84 percent after the expansion of the Trans Mountain pipeline, while Chinese refiners showed growing interest in Canadian oil amid disruptions to Venezuelan supplies.
The two sides also discussed attracting investment from battery giant CATL to develop energy storage and electric vehicle battery manufacturing in Canada.
However, Ottawa has not decided whether to lower its 100 percent tariff on Chinese electric vehicles, a major point of contention, while Carney seeks relief from Chinese duties on Canadian agricultural products.
