AGP Executive Report

Canada–Philippines Energy Deal: Prime Minister Mark Carney and President Ferdinand Marcos Jr. witnessed four agreements in Vancouver, including an energy and natural resources declaration, plus MOUs on tourism and culture (2026–2031) and a labor and migration declaration—aimed at deepening cooperation and supply chains for critical minerals. West Coast Pipeline Push: Alberta formally submitted a new southern-route oil pipeline to the federal Major Projects Office, partnering with federally owned Trans Mountain and Pembina; the plan targets a Roberts Bank terminal near Delta, B.C., with an estimated $35.2B–$43.7B price tag and delivery of 1.0M+ barrels per day to serve Asian markets. BC Protected Areas: B.C. advanced Indigenous-led protected areas, including a 300,000-hectare conservancy for the Klappan Sacred Headwaters and proposals to protect Kaska territory and the Meziadin River sockeye nursery—balancing conservation with resource extraction. USMCA Uncertainty: The U.S. declined to renew the US-Mexico-Canada Agreement in its current form, triggering annual review steps and raising stakes for North American trade.

Alberta Pipeline Push: Prime Minister Mark Carney and Premier Danielle Smith will hold a joint Calgary news conference on a proposed West Coast bitumen pipeline, tied to Alberta’s carbon-capture network conditions and federal fast-tracking talks. Power for Data Centres: Pembina’s Greenlight Electricity Centre near Edmonton cleared a major step, with Aecon’s consortium awarded a multibillion-dollar contract for a 932 MW natural-gas plant feeding a co-located data centre, with expansion potential. Oil Infrastructure Planning: South Bow and Bridger Pipeline are planning a new Wyoming-to-Cushing crude line as the third leg of a broader Alberta-to-Cushing export corridor. Competition Watch: The Competition Bureau reached a deal with BVD Petroleum to resolve concerns over a proposed Cenovus/Husky fueling-assets acquisition by selling a nearby Petro-Canada station to preserve local price competition. Farm Inputs for Renewables: Statistics Canada says canola acreage hit a record 23.4 million acres in 2026, while wheat and pulses fell. USMCA Uncertainty: The U.S. says it won’t renew USMCA in its current form, moving North America into a longer renegotiation/annual review period that could affect costs for businesses and consumers. Heat and Grid Strain: Extreme heat is driving emergency actions and power-grid stress across parts of Canada and the U.S., raising reliability and affordability concerns.

Energy Efficiency Push: Dozens of countries backed an IEA-led push to make energy efficiency a cornerstone of energy policy, aiming to cut costs, boost security, and protect affordability after Middle East-driven market shocks. Nuclear Debate in Canada: A week of Ottawa and Ontario announcements signals a heavier nuclear path, including a federal Nuclear Energy Strategy, faster approvals for a waste repository, and an SMR investment tied to First Nations at Darlington—while critics raise economic, technical, security, and environmental questions. Uranium Concerns: Guyana’s Amerindian People’s Association is calling for a halt to the Kurupung uranium project, citing missing consultations and lack of Free, Prior and Informed Consent. Canada-Philippines Ties: President Ferdinand Marcos Jr. arrived in Vancouver for talks with Prime Minister Mark Carney, with an agenda that includes energy, trade, defense, and maritime cooperation. Trade Uncertainty for Energy Markets: The U.S. won’t renew USMCA “in its current form,” moving the pact into annual reviews—raising planning risk for cross-border supply chains that include energy and power projects. Battery Sector Signal: Critical Resources says peer-reviewed validation supports its solid-state battery cathode manufacturing approach, a potential boost for Canada’s battery ambitions.

USMCA Review: U.S., Canada and Mexico trade chiefs are set to review the USMCA, with Canada’s Dominic LeBlanc and the U.S. side weighing whether to extend the pact for another 16 years as Trump pushes for more U.S. manufacturing content. Energy & LNG: Amid easing West Asia conflict, Bangladesh still plans higher-priced LNG imports, underscoring how spot-market swings can hit energy costs. Heat & Water Access (Sudbury): Greater Sudbury’s heat warning is extended for Canada Day, and a local letter urges the city to move a water trailer to the Energy Court encampment, where drinking water is unavailable for long stretches. Grid Modernization: Grid Forward named 2026 Grid Innovator Award winners, including Southwest Power Pool and Amperon, highlighting ongoing grid modernization work across the U.S. and Canada. LNG Canada Flaring Watch: LNG Canada defended its air-quality record as flaring concerns continue in Kitimat. Policy & Central Banking: Fed chair Kevin Warsh said inflation risks have eased, pointing to lower energy prices, while stressing the Fed’s independence.

Energy Efficiency Push: Governments meeting at the IEA’s Global Conference on Energy Efficiency in Montreal backed stronger efficiency policies to cut costs, boost energy security, and protect vulnerable households and data centres from future market shocks. AI + Power Demand: A new look at “agrivoltaics” argues Canada could meet major electricity needs for AI while boosting food output, using less than 1% of agriculture land. Pipeline Politics in Alberta: Alberta Premier Danielle Smith’s Ottawa oil-pipeline MOU is drawing fresh backlash from within the UCP as the province prepares for a fall referendum. Port Dredging for Oil Shipping: Vancouver Fraser Port Authority got federal approval to dredge Second Narrows to improve tanker capacity for Trans Mountain’s Westridge terminal. LNG Flaring Watch: B.C.’s energy regulator is monitoring air quality as LNG Canada continues efforts to reduce flaring in Kitimat. Critical Minerals + Deep-Sea Mining: A Vancouver deep-sea miner says it’s preparing to work with the Trump administration after an executive order accelerates U.S. offshore critical-minerals mining, putting Canada in a tricky position. Heat Safety in Ontario: Greater Sudbury is extending cooling measures and lifeguard hours for Canada Day amid expected heat warnings. Biodiesel in Hamilton: Mississaugas of the Credit Business Corporation and HOPA partners move to restart a Hamilton biodiesel facility using agricultural and waste feedstocks.

Canada-Philippines diplomacy: President Ferdinand Marcos Jr. will still visit Canada July 1–4 despite an INC-linked rally in Manila, meeting PM Mark Carney in Vancouver to discuss defense, energy and critical minerals cooperation. Alberta oil export push: Alberta says it will unveil details on a new 1-million-barrel-per-day West Coast oil pipeline to B.C. after Canada Day, with federal “national interest” steps tied to the Pathways carbon capture project and requirements for private financing and Indigenous co-ownership. Ontario critical minerals funding: Ontario announced $4M via its Critical Minerals Innovation Fund to speed up homegrown tech, mining jobs and a more integrated supply chain in Greater Sudbury and beyond. Energy efficiency in Alberta: A $1.6M upgrade at the Scott Seaman Sports Rink in DeWinton adds better building automation, heating/ventilation and energy generation, funded by federal and provincial programs. Market watch: Canada’s TSX edged higher while crude slipped and the loonie held around US$0.704. Fertilizer prices: Urea prices fell as the Strait of Hormuz reopened and China returned to exports, with analysts expecting further downside before demand picks up.

Offshore Safety Watch: Regulators say a crude oil spill inside the Hibernia platform off Newfoundland and Labrador caused no pollution or injuries, but warned the incident could have led to fire, explosion or fatalities; a sludge pump low-point drain sheared during a routine transfer, releasing about 400 gallons into the platform interior, and a final investigation report is still pending. Alberta–B.C. Pipeline Clash: Alberta plans to unveil details Thursday on a proposed “million-barrel-per-day” oil pipeline to the West Coast, with documents suggesting route options could run into B.C.’s North Coast where a tanker moratorium is in place; sources also say the initial Alberta proposal won’t have private-sector backing. Grid & Heat Relief: B.C. is expanding its Energy Conservation Assistance Program for lower-income households with no-cost retrofits like heat pumps, funded jointly by Ottawa and the province. Power Market Tensions in the Maritimes: A week of controversy continues as Maritime provinces weigh new gas/diesel peaker plants amid calls for batteries and offshore wind instead. Energy Finance: Questerre’s Series 2 preferred shares begin trading on Euronext Growth Oslo under ticker “QGAS,” giving investors tradeable exposure to its Quebec natural gas discovery.

Home Energy Affordability: Ottawa is expanding the Canada Greener Homes Affordability Program to Quebec, B.C., Nova Scotia and P.E.I., adding $500M+ total funding (with $300M federal) to help 35,000+ low- and median-income households get heat pumps, insulation and air sealing at no up-front cost, aiming to cut annual energy bills by $300–$1,700 and cut emissions by about 1.5 tonnes. Sovereign AI Infrastructure: HIVE’s BUZZ HPC signed a three-year, ~$310M GPU cloud contract with Bell AI Fabric for Cohere, using 2,304 NVIDIA Grace Blackwell GPUs at Bell’s Merritt, B.C. facility to deliver production-grade sovereign AI for Canadian government and enterprise customers. Fusion Fuel Supply Chain: Next Hydrogen Solutions teamed with Fusion Fuel Cycles to demonstrate purpose-built electrolysers for tritium extraction from heavy water, building on $3.75M in prior contracts. Grid & Heat Resilience Context: A new explainer on heat domes highlights how high-pressure systems trap heat and humidity—an issue that’s increasingly relevant for Canadian power demand and summer reliability.

Offshore Wind Licensing: Canada and Nova Scotia have prequalified bidders for the first offshore wind sites, with the Canada–Nova Scotia Offshore Energy Regulator clearing five companies (including DEME, Jan De Nul and Ming Yang) plus two bidder groups, setting up formal bidding later this year. Energy Diplomacy: Philippines President Ferdinand Marcos Jr. will visit Canada July 1–4, meeting PM Mark Carney to discuss defense, energy and critical minerals cooperation and to push a Canada–ASEAN free-trade deal. Grid & Reliability: A prolonged outage has left half the units at the refurbished Darlington nuclear station offline, raising questions about near-term reliability. Wildfire Risk: The N.W.T. ordered Fort Simpson residents to evacuate due to the Dehcho fire near the community, with air support and evacuation logistics underway. Geopolitics & Oil: Iran’s renewed attacks on Gulf states and threats to halt talks keep Strait of Hormuz transit risk in focus for global oil and gas prices.

Saskatchewan helium push: Sask. Energy and Resources says it has completed Canada’s first-ever Crown public offering for helium and associated gases, raising $15.9 million as Millennium Land Ltd. bought all 15 permits covering 267,334+ hectares for a six-year exploration term, with more offerings planned later this fiscal year. Grid-ready batteries: Moment Energy has opened Vancouver’s Megafactory 1, billed as the world’s largest “second life” EV battery facility, turning retired EV packs into storage for grids and major facilities—an important step as more batteries reach end-of-car life. AI and power demand: A new piece warns AI’s electricity and water use is straining systems, with data-centre demand projected to surge, while agrivoltaics is pitched as a way to co-produce food and power—potentially cutting fossil fuel needs using a small share of farmland. Energy infrastructure risk: Newfoundland and Labrador’s offshore regulator says a May 12 oil spill and gas leak on the Hibernia platform could have led to a deadly explosion and fire, even though the release was contained. EV trade into Canada: China’s Geely/Lotus EVs are set to arrive in Canada in July under the Carney-Xi framework, with up to 49,000 units annually at a reduced tariff rate.

AI Data Centres Backlash (Vancouver): Hundreds marched from Vancouver Art Gallery to City Hall to oppose two planned AI data centres tied to TELUS and the federal government—critics cite heavy power use and water impacts, with one site targeting online service by year-end and another by 2029. China EV Security & Trade (Canada): A Macdonald-Laurier Institute national-security report warns Chinese EV deals could carry surveillance and grid-disruption risks, framing them as part of broader hybrid-warfare tactics; separately, Reuters reports Geely’s Lotus EVs are set to arrive in Canada next month under the Carney–Xi tariff deal. Energy Infrastructure for AI (Canada-linked): Kevin O’Leary is backing Bitzero, a Canadian firm positioning itself as “power real estate” for AI and Bitcoin, touting long-term electricity contracts and 1 GW of scalable capacity. Nuclear Strategy (Saskatchewan): Saskatchewan is backing Canada’s national nuclear energy strategy, adding momentum to reactor-expansion plans. Grid & Storage (Canada): Minnesota’s PUC approved ALLETE’s acquisition with ratepayer protections, while Canada coverage also highlights battery storage growth as power demand shifts.

Offshore Wind Push (Nova Scotia): Canada’s offshore energy regulator has cleared five companies and two groups to bid on building the country’s first offshore wind farms, with seabed licence bids expected later this year. Coal Cost Fight (U.S.-Canada energy context): TransAlta is seeking tens of millions in reimbursement to keep a Washington coal plant on standby despite appearing idle, as regulators weigh the request amid utility and environmental opposition. Alberta Carbon Price Fallout: Up to 1,000 construction jobs and about 100 operating roles are at risk for an Edmonton waste-to-power project after Alberta’s carbon price deal undercut the economics of planned emission-reduction credits. Biofuel Revival (Ontario): HOPA Ports and the Mississaugas of the Credit are partnering to restart the former BIOX biodiesel plant at Hamilton’s Pier 14 under an Indigenous-led operator. Critical Minerals Strategy (Saskatchewan): Saskatchewan is backing a new Western and Northern Canada critical minerals strategy focused on infrastructure, faster approvals, and moving supply “from mine to market.” AI Power Crunch (Markets): Bloomberg reports a surge in clean-energy and power-related IPOs tied to data centre demand, but warns investors may face “winners and roadkill” as technologies mature.

Canada–Philippines Trade Push: President Ferdinand Marcos Jr. will visit Canada July 1-4, with talks expected to focus on defense and security, plus accelerating negotiations for a Philippines-Canada free trade agreement and a Canada-ASEAN FTA, both aimed at completion this year. Canada–China Energy Exports: A Canadian diplomat says Canada is targeting a 50% jump in exports to China by 2030, citing Canada’s role as a major energy exporter to support China’s energy security. Yukon Smart Meters Funding: Ottawa is releasing $7.5M for ATCO Yukon to deploy about 20,000 advanced metering infrastructure meters across 19 communities, with installations running through 2028 to improve billing and reduce estimated reads. Clean Mining Tech in Sudbury: Cambrian College receives $1M+ to convert a diesel underground loader into a battery-electric vehicle for real-world testing, supported by industry and aimed at cutting emissions in mining. Oil Market Shock: The IEA says it will release a record 400M barrels to global markets as the Iran conflict disrupts Persian Gulf flows, pushing crude and gas prices higher. Gold Slump Watch: Analysts warn gold could face limited support below $4,000/oz as higher real yields and a stronger U.S. dollar pressure prices, though long-term bullish views persist.

Critical Minerals & Solar Supply Chains: Manitoba’s Green Party leader calls PM Mark Carney’s G7-linked silica sand announcement “very concerning,” after Ottawa flagged Sio Silica’s high-purity silica plan and a solar manufacturing hub in a new critical minerals partnership. Oil & Gas Sector Scale-Up: A consolidation wave has pushed Canada to a decade-high number of petroleum producers valued at $1B+—a sign of renewed investor interest after years of shakeouts. Alberta Court Restructuring: Canacol Energy won Alberta court approval to disclaim certain natural gas supply and transportation contracts as it restructures under the CCAA, with the decision highlighting the distinct Colombian gas market and protections for regulated consumers. Power & Infrastructure: Hamilton’s $390.4M Birch Transit Centre opened, adding indoor CNG bus fueling and maintenance with space designed for future battery-electric operations. Nuclear & Trade Diplomacy: Canada’s energy minister announced up to $73M for 12 critical minerals and clean-tech projects, while Foreign Minister Anita Anand met Türkiye’s Hakan Fidan as both stressed keeping Strait of Hormuz navigation open amid US-Iran talks.

EV Battery Circular Economy: Moment Energy opened “Megafactory 1,” billed as the world’s largest EV battery repurposing facility in Canada, turning retired EV packs into battery energy storage systems for data centres and other critical loads, with plans to reach 1 GWh annually by 2030. AI Data Infrastructure: OpsGuru launched its Energy Lakehouse Accelerator, aiming to cut the time Canadian businesses take to build AI-ready data systems by up to 80%, as AI adoption keeps accelerating. Power Grid & Policy: A new National Electricity Strategy pitch is drawing fire from critics who say demand forecasts are too optimistic and that government build plans risk cost overruns. Nuclear Waste Governance: A northern First Nation says it will still apply its own regulatory process to a proposed deep geological nuclear waste repository site, even as Ottawa moves to fast-track major projects. Oil & Pipeline Compliance: Wisconsin reached a $275,000 settlement with Enbridge over a 2019 Line 13 spill, alleging delayed reporting under hazardous spills rules. Climate & Heat Risk: B.C. health officials warned that the 2021 heat dome won’t be a one-off, citing provincewide deaths and urging better preparation for future extreme heat.

Nuclear Strategy: Canada’s nuclear push is back in the spotlight as Ottawa rolls out a plan to add up to 10 new reactors and position the country as a global supplier of tech and uranium, but analysts note the big question is how fast and how safely it can move. Energy Storage & Power Markets: Canadian Solar’s e-STORAGE says it has a Florida deal for a 95 MW/426 MWh battery system, targeting early 2028 operations to help the utility manage peak demand as solar grows. Oil & Travel Costs: With crude back near US$70/bbl after U.S.-Iran developments, some airlines are cutting fuel surcharges—WestJet and Porter among those adjusting—while others hold steady. Climate Impacts: A Parks Canada report warns Banff could warm by 3 to 6 C by 2051-80 if emissions keep rising, with hotter extremes, less snowpack, and higher wildfire and drought risk. Grid Reliability Tech: Nanoprecise launched ReliabilityOS, an agentic AI platform aimed at cutting alert overload and speeding reliability decisions for industrial teams. Logistics Sustainability: PECO Pallet won CITT’s 2026 Environmental Sustainability Award for emissions-reduction and carbon measurement efforts.