Canada has the potential to bolster Europe’s power safety via a brand new alliance, however consultants say it doesn’t essentially imply tankers crossing the Atlantic Ocean laden with oil or liquefied pure fuel.
Prime Minister Mark Carney was in Strasbourg, France, this week the place he and European Union management mentioned strengthening ties on a number of fronts amid strained relations with the US.
Werner Antweiler, an economist on the College of British Columbia, says Europe is in a “precarious scenario” because it goals to pivot away from Russian power imports following that nation’s invasion of Ukraine in 2022.
Canada has pipelines and port infrastructure to export oil and fuel from the West Coast to Asia, however no such choice exists within the east, and any such venture may take a decade or extra to come back to fruition.
Within the meantime, Antweiler says European corporations have the power to safe a secure fuel provide from Canada via what’s often known as swap contracts, the place a cargo headed for Asia, as an example, may very well be traded with one other one sure for its shores.
Rachel Doran, government director at Clear Vitality Canada, sees a promising alternative to produce important minerals to Europe, serving to it transition away from fossil fuels and develop its clear energy provide.
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