Canada Touts Clean Energy During G7 Meeting in Toronto

Written by Daniel Graeber for Industrial Info Resources (Sugar Land, Texas).

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Summary:

Canada's natural resources minister was showcasing the nation's CCS potential for delegates of the G7. Meanwhile, Prime Minister Mark Carney continues to do the rounds in Asia, seeking to shore up non-U.S. trade partnerships.

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Canadian leaders on Thursday welcomed delegates to a conference of the G7, boasting of its clean-energy programs and setting a goal to become the strongest economy in the group.

Delegates from the Group of 7 (G7) major economies arrived for an energy and environmental forum in Toronto. Kicking off the meeting, Tim Hodgson, the minister of energy and natural resources, said made-in-Canada clean energy programs are bolstering the domestic economy.

"This is about growing opportunities for Canadians and protecting our environment as

we become an energy superpower and the strongest economy in the G7," he said.

Canada Investing in CCS

Hodgson in his address said Canada would invest more than USD$7.5 million on carbon utilization and storage technology in the province of Newfoundland and Labrador as well as Quebec. That follows similar investments from the provincial government of Alberta this year.

The Quest carbon storage facility in Alberta is among Canada's largest. Led by Shell (London, England), the facility is designed to capture 1.2 million tons of carbon dioxide (CO2) emissions annually and cut emissions from its Scotford Upgrader by around 35% by storing emissions underground.

Subscribers to Industrial Info's Global Market Intelligence (GMI) Refining Project Database can learn more from a detailed project report.

In Quebec, Glencore improved an existing carbon-capture and storage (CCS) system at its Horne Copper Smelter, which can process 840,000 tons of metal per year.

Subscribers to Industrial Info's GMI Metals & Minerals Project Database can click here for more details on the project.

"The federal government is focused on getting projects built, supporting our industries and catalyzing a new era of economic growth," a Canadian government statement read. "We will secure our position as a global supplier of secure, reliable and low-carbon energy and natural resources, getting more energy to market to become an energy superpower."

Prime Minister Carney Continues Search for Non-U.S. Trade

While Hodgson was courting G7 delegates in Toronto, Prime Minister Mark Carney was looking to secure new trade opportunities during a visit of Asian economies. He already discussed signing a letter of intent with the Malaysian government to deepen investments in liquefied natural gas (LNG), oil, nuclear and renewable energy.

Carney hopes to expand non-U.S. trade given the newfound acrimony that greeted U.S. President Donald Trump's aggressive trade policies. Canada already has an edge of sorts with its LNG Canada facility in British Columbia, the only facility on the western shores of North America capable of sending cargoes of the super-cooled gas. Carney already listed Phase 2 of LNG Canada as a national priority, and operator Shell boasted of the facility's progress during its third-quarter earnings call. Subscribers to Industrial Info's GMI Production Project Database can click here for more details on the project.

Canada's Economy Bruised by Tariffs

Elsewhere, the Canadian economy contracted by 1.6% during the second quarter as U.S. tariffs take their toll on business sentiment.

"U.S. trade actions and related uncertainty are having severe effects on targeted sectors including autos, steel, aluminum, and lumber," the Bank of Canada said Wednesday.

The bank reduced interest rates by 25 basis points to 2.25%. Inflation is "sticky" at around 3%, the bank added, 1% above its target rate. On Wednesday, meanwhile, the U.S. Senate passed legislation ending an emergency declaration used to justify tariffs on Canada, though it's unlikely to make its way through the House of Representatives.

By the numbers:

A refinery in Alberta is cutting its emissions by 35% through CCS

Canada's central bank lowered its lending rate by 25 basis points to 2.25%

Canada backing CCS with USD$7.5 million

Key takeaways:

• Rich in oil, Canada is delivering a message of clean-energy to G7 delegates
• Canadian Prime Minister Mark Carney continues his search for non-U.S. trading partners
• Canada's economy is starting to feel the pressure from U.S. tariffs

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