Canada Secures Second Europe LNG Deal, Targeting 55% of Gas Exports Beyond US
Updated
Updated · The New York Times · Jul 29
Canada Secures Second Europe LNG Deal, Targeting 55% of Gas Exports Beyond US
3 articles · Updated · The New York Times · Jul 29
Summary
A second major LNG export deal with Europe was announced Wednesday as Ottawa moves to cut reliance on the U.S. market after Washington imposed 50% tariffs on many Canadian exports.
Canada said it now aims to send 55% of its natural gas exports to non-U.S. buyers by the middle of the next decade, up from just 0.01% in 2024.
The push comes as Trump has expanded trade pressure beyond last year's tariffs on cars, steel and aluminum, and recently refused to renew the North American free-trade pact for another 16 years.
Tensions have spilled beyond trade: Canada last week canceled a joint opening for the C$6.4 billion Gordie Howe bridge, while some Canadian politicians urge Mark Carney to use energy and mineral exports as leverage.