IEA urges Canada to speed energy development and exports
Updated
Updated · Bloomberg · May 7
IEA urges Canada to speed energy development and exports
9 articles · Updated · Bloomberg · May 7
Executive director Fatih Birol told a Toronto policy conference on Thursday that Canada should move faster while post-Iran war conditions still favour it.
He said buyers will no longer focus only on price, because the conflict has added an energy security risk premium to markets.
Birol argued Canada’s key advantage is trust, suggesting reliable suppliers could gain as countries prioritise secure energy sources after the war.
Could a sudden end to the Iran war leave Canada with billions in stranded energy assets?
With Indigenous disputes threatening key projects, can Canada truly be the reliable energy partner the world needs?
As global needs sideline climate goals, can Canada expand fossil fuel exports without sacrificing its net-zero promises?
Unlocking Canada’s Energy Export Potential in 2026: Infrastructure, Policy, and the Clean Transition
Overview
The ongoing Iran conflict has disrupted global energy markets by removing about 20% of oil and gas supplies, prompting nations worldwide to urgently seek reliable alternatives. In 2026, the IEA urged Canada to seize this rare geopolitical opportunity to expand its energy exports, framing it as a once-in-a-generation chance. However, Canada faces significant infrastructure bottlenecks, including pipeline constraints and high toll disputes, limiting its export capacity. A landmark 2025 federal-Alberta agreement links new pipeline development to carbon capture projects, but unresolved carbon pricing issues create industry uncertainty. Meanwhile, Canada is positioning itself as a reliable, lower-emission LNG supplier amid a global shift accelerating clean energy adoption, highlighting the need to balance near-term export growth with long-term decarbonization.