Exxon Favouring Canadian Natural Gas Over Oil Sands for Acquisition

Bloomberg reported that international oil companies, like Exxon, are favouring Canadian natural gas acquisitions over oil sands, as a means of meeting Asian demand.

As quoted in the market report:

Three of the five largest energy acquisitions announced by foreign buyers in Canada this year, valued at a combined $9.8 billion, were for natural gas assets, according to data compiled by Bloomberg. The trend will continue next year as liquefied natural gas developers move closer to commissioning projects, said Robert Mark, who helps oversee C$4.5 billion ($4.5 billion) at MacDougall, MacDougall & MacTier Inc. in Montreal.

To view the whole Bloomberg report, click here.