Toronto will be energy town for the next two days as senior executives from many of Canada’s oil and gas companies, pipeline and service companies, as well as institutional investors from around the world attend a Canadian Association of Petroleum Producers investment symposium on April 3 and 4. The CAPP Scotiabank Investment Symposium is a forum for the uptstream oil and gas industry, including producers, transportation companies and investors, to “explore investment opportunities,” said CAPP president Dave Collyer in a statement. The event promises to bring together over ninety oil and gas CEOs and senior executives, and over 200 institutional investors.
“It is also an opportunity to discuss the significant impact investment by our industry has on economic growth and job creation across the country. The CAPP Scotiabank Investment Symposium will highlight industry’s plans to ensure competitiveness and social licence, and our efforts to grow markets for Canada’s significant oil and natural gas resources.”
In addition to investor presentations there will be panel discussions with provincial energy ministers, transportation company executives and LNG proponents. Among the companies attending and or presenting are many names that Canadians will recognize—Cenovus Energy Inc., Enbridge Inc,. Encana Corp., Irving Oil, Pembina Pipeline, Petronas (Progress Energy Canada), Suncor Energy Inc., Talisman Energy, and TransCanada Corp. Dozens of others may be less familiar to non-industry insiders, but play a big role in the country’s energy sector.
Canada, the CAPP statement says, has the third-largest oil reserves in the world as well as significant natural gas assets, and is ranked among the top 10 global energy producers. This presents an important opportunity for investors, as only “about 20 per cent” of total global oil reserves are fully accessible for private-sector investment. Of those reserves, over half are found in Canada’s oil sands.
The oil and natural gas industry accounts for about 20 per cent of the value of the Toronto Stock Exchange and is the largest private sector investor in the country with capital spending consistently in the range of $60 billion to $70 billion a year. The CAPP symposium has been held in Toronto only once previously in its twenty-four-year history.
The CAPP Scotiabank Investment Symposium takes place at the Sheraton Centre Toronto, April 3–4.