Canada's Energy Sector Draws Asia's Attention

On his way to New York for the U.N. General Assembly, Japanese Prime Minister Shinzo Abe stopped in Ottawa on Sept. 24 to meet with Canadian Prime Minister Stephen Harper to discuss energy cooperation as well as other issues. The high-level meeting between the prime ministers indicates the emerging importance of Canada's energy sector to not only Japan, but also China and other Asian countries.  

Much like the United States, Canada is experiencing a dramatic revolution in its hydrocarbon sector that is unlocking vast potential. Giant Asian energy consumers, particularly China and Japan, are keenly interested in Canada's energy resources — not just in terms of competing with each other but also with the understanding that Canadian energy exports, regardless of their destination, could significantly lower prices for both natural gas and oil.