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Minister Rickford Announces Participation in APEC Energy Ministers' Meeting

OTTAWA, ONTARIO -- (Marketwired) -- 08/31/14 -- Natural Resources Canada

The Honourable Greg Rickford, Canada's Minister of Natural Resources and Minister for the Federal Economic Development Initiative for Northern Ontario, today announced his participation in this week's Asia-Pacific Economic Cooperation (APEC) Energy Ministers' meeting.

Minister Rickford will represent Canada and highlight the opportunity presented by our country, the provinces and industries building our capacity as a secure, reliable and responsible source of energy to supply global demand and support global stability.

Minister Rickford's visit supports outcomes of his meetings with provincial and territorial counterparts where the ministers agreed on the priorities of "Reinforcing Canada's role in strengthening global energy security by providing access to expertise and natural resources" and "Highlighting Canada's position as a responsible resource supplier and a global leader in energy efficiency and conservation, thereby attracting investment critical to the development and diversification of our resources."

Quick Facts: Promoting Canada's Natural Resources Relationships


--  The stock of foreign direct investment in the energy sector has grown
    continuously from $61 billion in 2004 to $182.5 billion in 2013. Since
    2005, foreign direct investment in oil, mining and gas has increased by
    85 percent.
--  Canadian wood exports to China have grown dramatically, from $104
    million in 2004 to some $1.9 billion in 2013. China and is one of the
    world's largest markets for clean energy technology and will be the
    largest market for green buildings by 2017.
--  Canada has some of the soundest business fundamentals anywhere in the
    world, representing an attractive, stable and predictable place to
    invest. Three credit rating agencies - Moody's Investors Service, Fitch
    Ratings and Standard & Poor's - have reaffirmed their top ratings for
    Canada.
--  Canada has the third-largest proven oil reserves and is the world's
    fifth-largest producer of natural gas, with estimated marketable natural
    gas resources of up to 44 trillion cubic metres.
--  Asia's natural gas demand is projected to grow at an average annual
    growth rate of 4.2 percent, from 410 billion cubic metres in 2011 to
    1,088 billion cubic metres in 2035.
--  Asia's oil demand is projected to grow at an average annual growth rate
    of 2.3 percent, from 19.3 million barrels per day in 2012 to 32.5
    million barrels per day in 2035.
--  Canada benefits from one of the cleanest electricity mixes in the world,
    with 63 percent generated from renewable sources - the highest level in
    the G7.
--  Our government is taking action to lower emissions, while growing
    Canada's economy. In 2012, emissions were 5.1 percent lower than 2005
    levels, while the economy grew by 10.6 percent during the same period.
    Per-capita carbon emissions have fallen to their lowest level since
    tracking began.
--  Natural resources account for about 60 percent of Canada's exports to
    China.

Quotes

"Our government maintains an open, market-based approach to trade and investment and encourages the capital investments that contribute to the long-term prosperity of Canadians. We recognize that enhancing relationships and increasing trade with the Asia-Pacific region is vital to Canada's economy and our country's future prosperity."

Greg Rickford

Canada's Minister of Natural Resources and Minister for the Federal Economic Development Initiative for Northern Ontario

Follow us on Twitter: @NRCan (http://twitter.com/nrcan)

NRCan's news releases and backgrounders are available at www.nrcan.gc.ca/media

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