Canada Moves Toward Energy Superpower Goal With German LNG Deal
By Paul Vieira
OTTAWA--Canada unveiled on Wednesday a deal to sell liquefied natural gas to Germany, marking a significant step in Prime Minister Mark Carney's effort to capitalize on its oil-and-gas reserves and position the country as an energy superpower.
Canadian Energy Minister Tim Hodgson said Germany's state-owned utility, SEFE, has agreed to purchase one million metric tonnes a year of LNG for up to 20 years, with shipments starting early in the 2030s.
The shipments would originate from a proposed floating LNG export terminal to be built off British Columbia's north coast. The terminal would be operated by a consortium led by Western LNG, a Blackstone-backed company.
The Canada-Germany deal, Hodgson said, represents "the urgent need for Canada to not just talk about our resource wealth, but use our energy and natural resources to put the proverbial best cards in our hands, and to build Canada strong for all."
Among Carney's top policy priorities is to build and refurbish the country's trade corridors, and champion resource projects, in a bid to diversify exports away from the U.S. and to other markets in Asia and Europe.
Write to Paul Vieira at paul.vieira@wsj.com
(END) Dow Jones Newswires
May 27, 2026 12:31 ET (16:31 GMT)
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