OTTAWA, ON, March 11, 2026 –  As a leading energy producer and exporter, Canada is ideally placed to help bolster global energy stability amid heightened market volatility stemming from Middle East military actions and disruptions in the Strait of Hormuz.

This context underscores that our allies are seeking stable and dependable energy sources in a world growing more uncertain. It necessitates a reinforced commitment to what Canada can achieve to improve energy security both domestically and internationally.

From the outset, the Government of Canada has worked to establish the nation as an energy superpower. By accelerating projects through the Major Projects Office, the Canada-Alberta MOU, and utilizing various financial instruments and regulatory efficiencies, we are advancing efforts to grow and diversify export capacity, strengthen national energy security, and assist our allies worldwide.

Canada endorses and will engage in multilateral initiatives aimed at global energy security. We are collaborating urgently with the Canadian industry to evaluate the potential speed and scope of Canada’s response and will provide further details soon. We recognize the substantial affordability pressures that energy market swings are placing on Canadians at the fuel pumps, and efforts to create a more stable market are expected to help mitigate rising prices.

 

SOURCE Natural Resources Canada