Canada sees energy hope from Asia

Oct. 15, 2013 at 6:40 AM
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SEOUL, Oct. 15 (UPI) -- The Canadian economy will benefit from the government's efforts to establish new energy relations in Asian markets, the natural resources minister said.

Canadian Prime Minister Stephen Harper has courted Asian powers to add diversity to an energy export market dependent almost exclusively on the United States.

The United States is using more of its own resources because of production gains in shale oil and natural gas. China and other leading Asian countries are expected to take on more foreign resources as their economies expand.

Canadian Natural Resources Minister Joe Oliver said from Seoul the Canadian economy will benefit from stronger ties to Asia.

"Now, more than ever, Canada stands to benefit significantly from reaching new energy markets with our longstanding trade partners in the Asia-Pacific," he said in a statement Monday.

South Korea is the world's second-largest importer of liquefied natural gas. Canada, for its part, is working to setup LNG terminals on its western coast.

Oliver attends the World Energy Congress under way in South Korea later this week.

"Our government is working hard internationally and at home to reach new markets for our natural resources," he said.

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