Japan could be the next Asian market to tap Canada’s liquified natural gas (LNG) reserves.
Prime Minister Stephen Harper met with his counterpart from Japan last week, and while no deal was reached, local media speculated that shipments could start as early as 2018.
Aside from interest in natural gas, India has also signed a deal that would allow Canadian uranium to be used in its reactor fuel. India plans on tripling electricity production over the next decade.
India is also considering investing in the Energy East Pipeline, which has been delayed.
Asia’s strong interest leaves many to wonder why the U.S. isn’t looking for more from Canada?
Experts predict challenges on the horizon. As natural gas prices rise there is fear that a boom scenario could materialize, with Canadian gas producers ill-prepared to respond. For more information, visit:http://oilprice.com/Energy/Energy-General/Canada-Continues-Wooing-Asian-Energy-Markets.html