Subscribe free to our newsletters via your
. 24/7 Space News .




ENERGY TECH
Canada: Chinese energy investment welcome
by Staff Writers
Beijing (UPI) Apr 17, 2013


disclaimer: image is for illustration purposes only

The Canadian government said it is open to more investment from Chinese energy companies.

Speaking Tuesday to a gathering of Chinese and Canadian executives in Beijing, Canadian Trade Minister Ed Fast said, "Whether it's oil, whether it's gas, whether it's uranium, coal, hydro or clean energy like solar and wind power, we've got it," The Globe and Mail, a Toronto newspaper, reported.

"Chinese investors looking for stability, innovation, low taxes and an excellent North American platform and gateway need look no further than Canada," he said.

Fast is leading a Canadian trade mission to China and Japan April 7-21 and was the first of Canada's Cabinet to meet China's new leadership team since President Xi Jinping and Premier Li Keqiang were installed last month. It is his third trip to China in less than two years.

The minister's visit to China follows the recently completed $15.1 billion acquisition of Canadian oil-sands operator Nexen by state-owned China National Offshore Oil Corp., the largest overseas acquisition by a Chinese company.

In approving the CNOOC-Nexen deal in December, Canadian Prime Minister Stephen Harper warned that foreign investment by state-owned enterprises in the oil sands would be restricted in the future.

But Fast on Tuesday in Beijing stressed that despite Harper's strong stance regarding oil sands, Chinese investment and acquisitions were still warmly welcomed elsewhere in the energy patch, The Wall Street Journal reports.

"The clarifications that were made with respect to the oil sands were pretty clear and with respect to other investments in the energy sector outside the oil sands, it is still open ... and a welcoming environment for them," the Journal quoted Fast as saying.

Prior to the Nexen deal, CNOOC had invested $2.7 billion in Canada since 2005, China Daily reports.

China is the world's largest oil importer. About 80 percent of China's oil imports are sourced from the Middle East, Africa and Venezuela.

"China does have other places to go to import oil and gas," Ron MacIntosh, a research fellow at the China Institute, University of Alberta, was quoted as saying by the Financial Post. "If Canada is seen as a particularly difficult investment environment, which we hope they don't, than those other places might look more attractive."

Fast said Canada would push ahead with diversifying energy exports away from the United States regardless of the Obama administration's decision on the Keystone XL oil pipeline, which would deliver Canadian crude oil to southern U.S. refineries.

.


Related Links
Powering The World in the 21st Century at Energy-Daily.com






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle








ENERGY TECH
Three years after Gulf spill, BP fights billions in fines
Chicago (AFP) April 17, 2013
Three years after a deadly explosion on a BP-leased drilling rig unleashed the worst environmental disaster in US history, the British energy giant is fighting to avoid billions in fines. BP's lawyers are trying to convince a federal judge that the 2010 Gulf of Mexico oil spill was not a result of gross negligence and to shift some blame - and cost - to its subcontractors at a blockbuster ... read more


ENERGY TECH
Characterizing The Lunar Radiation Environment

Russia rekindles Moon exploration program, intends setting up first human outposts there

Pre-existing mineralogy may survive lunar impacts

Lunar cycle determines hunting behaviour of nocturnal gulls

ENERGY TECH
Accurate pointing by Curiosity

NASA Mars Orbiter Images May Show 1971 Soviet Lander

Opportunity is in position for solar conjunction at 'Cape York' on the rim of Endeavour Crater

NASA spacecraft may have spotted pieces of Soviet spacecraft on Mars

ENERGY TECH
Testing Spacesuits in Antarctica, part 1

Obama's budget would boost science, health

Underwater for outer space

NASA Celebrates Four Decades of Plucky Pioneer 11

ENERGY TECH
Shenzhou's Shadow Crew

Shenzhou 10 sent to launch site

China's Next Women Astronauts

Shenzhou 10 - Next Stop: Jiuquan

ENERGY TECH
UH Engineering Researcher's Theories to be Tested Aboard ISS

Unmanned Russian space freighter leaves space station toward fiery end

Europe sets June 5 for launch of space freighter

Spooky action at a distance aboard the ISS

ENERGY TECH
Launch pad problem scrubs launch of Antares rocket for NASA

ILS Proton Launches Anik G1 for Telesat

Ukraine aims to accelerate space industry development

Payload integration is underway for Vega's second mission from the Spaceport

ENERGY TECH
Astronomers find most Earth-like planets yet

Can One Buy the Right to Name a Planet?

Retired Star Found With Planets And Debris Disc

The Great Exoplanet Debate

ENERGY TECH
Softening steel problem expands computer model applications

New material gets itself into shape

For the very first time, two spacecraft will fly in formation with millimeter precision

High pressure gold nanocrystal structure revealed




The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement