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Canadian gas sector to benefit from restrictions on foreign investments in oil sands

GlobalData

The Canadian government announced new investment guidelines on Dec. 7, 2012, aimed at restricting the level of control that state-owned enterprises (SOEs) can have in Canadian oil sands companies. GlobalData reports that, as a result of these investment restrictions, foreign investment by SOEs with controlling powers will likely be redirected to Canada’s gas sector, which is not affected by the restrictions. Gas-sector M&A activity is also expected to increase.

Canadian oil sands

Chinese SOEs have invested heavily in Canadian oil sands assets, accounting for approximately 80% of the investments in Canadian oil sands companies since January 2012. Mindful of LNG suppliers targeting Asia, the Canadian government has, in effect, redirected foreign investments to the country’s less-developed shale gas and LNG projects, thus ensuring that SOE investment in Canada’s gas sector will help support the country’s planned LNG plants.

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