Alberta forges ties with OPEC

Province will get voice in energy discussions

For the first time, Alberta and the Organization of Petroleum Exporting Countries have established an official relationship. It’s a new strategy with big implications, including potential investment by OPEC members in Canada’s oil sands.

The link was formalized by Ed Stelmach, Alberta’s Premier, during a visit to OPEC’s Vienna headquarters earlier this month and gives the province a seat at OPEC’s ‘dialogues’ on matters of mutual interest. Other jurisdictions, such as the United States and the EU, take part in the events.

“I’ve always found it’s a good thing to know your competitors,” Mr. Stelmach said after meeting with OPEC’s Secretary-General, Libya’s Abdalla Salem El-Badri, about two weeks ago. “There are connections that can only be made in person, one-on-one.”

While Alberta has had meetings with OPEC representatives in the past, such as between former Alberta premier Peter Lougheed and Saudi Arabia’s Sheik Yamani, the new link is the first political connection between Alberta and OPEC, said Paul Stanway, the Premier’s spokesman.

“We are not able to be an official observer, but we are able to take part in this dialogue process they have with other major oil and gas producers,” he said, noting the observer status is bestowed only on nations such as Norway or Russia.

Financial Post