Prime Minister Justin Trudeau attends a bilateral meeting with Greece's Prime Minister Kyriakos Mitsotakis in Montreal, on March 24.The Prime Minister of Greece is pitching his country as a major European market for Canadian liquefied natural gas, despite Ottawa’s preference for promoting renewable energy and continuing challenges to viably bring export facilities to fruition.
That includes two proposed projects in the Maritimes, which could have served European markets, sponsored by Repsol SA of Spain and Calgary’s Pieridae Energy Ltd.over concerns about their economic viability, including expensive tolls to bring in gas from the West, and fierce environmental opposition to such projects.
Asked about the Greek Prime Minister’s statements, Carolyn Svonkin, a spokesperson for Mr. Wilkinson, replied that “if LNG is to play any role in the future, it must be pursued in a manner that is aligned with Canada’s and the world’s climate commitments” to reach net-zero by 2050. That will require cutting methane emissions associated with extraction, electrifying LNG facilities and ensuring “LNG shipping abroad is only displacing higher-emitting energy sources like coal.
Mr. Mitsotakis is visiting Canada at a time when Greece continues it rebound from its 2010 financial crisis. Rating agencies Standard & Poor’s, Fitch Ratings, DBRS Morningstar and Scope RatingsThere are sticking points in the trading relationship between Canada and Greece over one of the latter’s key largest exports: feta cheese.