C1 DAILY STORY

World 17 Jun 2026

G7 backs Canada as major global energy supplier to lessen reliance on Strait of Hormuz

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Canada is poised to become a key and reliable supplier of energy to the G7 after leaders meeting in France embraced this country's potential to deliver "significant additional capacity" to global markets to reduce dependence on oil and gas coming through the Strait of Hormuz. "We commit to accelerate the diversification of energy supply routes in order to reduce global vulnerability to the Strait of Hormuz and to increase our energy stocks," said a joint statement by G7 leaders in Évian-les-Bains, France, on Wednesday. "We welcome the potential for Canada to deliver significant additional capacity to global markets in the coming years." Prime Minister Mark Carney also announced new partnerships on critical minerals that his office said "will unlock more than $5 billion in capital investment for projects across the Canadian critical minerals value chain." Canada can provide 'substantial' energy capacity to global partners amid uncertainty, Carney says In his closing news conference, Carney said it's critical for the global economy to diversify its energy supply routes away from the choke point at the Strait of Hormuz. Iranian attacks on ships carrying energy through the Strait of Hormuz essentially closed the access point to the Persian Gulf, halting most shipments of oil and driving up global energy prices. Carney said that Canada is already "on the path" to increasing its energy production, with several major liquefied natural gas projects underway.

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G7 backs Canada as major global energy supplier to lessen reliance on Strait of Hormuz

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