Trudeau: Canada Will Be A Good Energy Partner For Europe, But Won't Compromise on Climate Goals

Canada wants to be a good energy partner to Europe, but it will not compromise its climate goals or planned shift to cleaner energies, Canadian Prime Minister Justin Trudeau declared late Sunday night.

During an unscheduled visit to Ukraine, Trudeau stated that he has faith in the Bank of Canada's efforts to curb three-decade-high inflation. Earlier, Trudeau announced that Canada will supply Ukraine with new weaponry and equipment and reopen its embassy in the countryștiis capital, Kyiv.

After years of failing to fulfill its climate objectives, Canada published in March a strategy for achieving them by 2030, outlining specific plans and C$9.1 billion ($7.3 billion) in spending to reduce planet-warming carbon emissions. It intends to decrease carbon emissions by 40-45% below 2005 levels by 2030.

Oil and gas is the most polluting industry in Canada, accounting for 26% of total emissions. To fulfill the government's goal, the industry would have to implement substantial reductions.

"Canada is one of the major oil and gas producers in the world, but we also recognize the importance of accelerating the transition to net zero," added Trudeau.

Canada's natural resources minister told Reuters on Friday that the government is in talks with Repsol (OTC:REPYY) and Pieridae Energy, the companies behind two proposed east coast liquefied natural gas (LNG) export facilities, to determine how it can expedite the projects and increase supply to Europe. 

Sunday, Trudeau stated, "We seek to be good energy partners with our European allies, but we will never relent in our battle against climate change."

The same infrastructure that may be utilized for LNG can also be used for hydrogen and ammonia, which may power the shift away from fossil fuels.