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Minister Rickford Highlights Importance of Market Diversification to Quebec's Economy

MONTREAL, QUEBEC -- (Marketwired) -- 04/11/14 -- Natural Resources Canada

The Honourable Greg Rickford, Canada's Minister of Natural Resources, today delivered a keynote address to the Montreal Council on Foreign Relations. During his speech, Minister Rickford emphasized Canada's position as a global energy leader and the benefits of market diversification for Canada's and Quebec's natural resource sectors.

Minister Rickford also highlighted the potential new markets created by the energy demands of the growing economies of countries such as India and South Korea and the importance of opening up these markets for Canadian oil and natural gas. He noted that Quebec is already an important player in the energy sector and underscored the significant economic opportunities afforded by the province's oil and natural gas resources. Minister Rickford also highlighted the potential for projects such as the Line 9 pipeline and the proposed Energy East pipeline to reduce Quebec's reliance on foreign oil and improve the economic competitiveness of the province's refining and petrochemicals sectors.

Quick Facts


--  Quebec's oil and gas sector is responsible for 4,000 direct jobs in 48
    local petrochemical businesses.
--  The proposed reversal of the Enbridge Line 9 pipeline would give
    refineries in Quebec access to 300,000 barrels per day of lower-cost
    Canadian crude oil.

Quotes

"Our Government's plan for Responsible Resource Development will create jobs and economic growth while enhancing the safety of our environment. Diversifying our export markets is critical to ensuring Quebec's and Canada's continued high quality of life, now and in the future."

Greg Rickford, Canada's Minister of Natural Resources

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