U.K. companies see big business potential in Alberta
Alberta's oilsands may be suffering from an economic slowdown and apoor environmental record, but that isn't stopping companies fromwanting to relocate to Alberta.
Alberta's oilsands may be suffering from an economic slowdown and a poor environmental record, but that isn't stopping companies from wanting to relocate to Alberta.
The British Trade Office has said it is receiving a significant increase in requests for assistance from U.K. companies wanting to set up shop in Alberta and Canada. On the oil and gas side, the trade office said it has already exceeded government targets for the year.
According to the trade office's Paul Paynter, the big draw is the vast reserves and the demand for technological advances along with the stability of the Canadian economy.
"We have found the amount of interest, and indeed the amount of business we are doing, has actually increased and increased quite significantly," he said, adding the potential for carbon capture is also a big draw for UK companies to invest in Alberta.