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An LNG terminal in Saint John, N.B.
An LNG terminal in Saint John, N.B.
(Canaport)

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Canada’s resource security already lies in foreign hands

Maybe foreign state-owned oil companies aren’t a threat to the security of Canada’s energy sector. Maybe they’re the solution to the sector’s security.

Stéfane Marion, chief economist and chief strategist at National Bank Financial in Montreal, published a research note Monday arguing that while Asian-based state oil companies are showing growing interest in Canadian natural gas (a prime example being the now near-dead bid from Malaysia’s Petronas for Progress Energy Resources Corp.), the prime market for Canadian natural gas is disappearing.