Export & Trade Flows

Canada's Energy Export
& Trade Flows

Energy is Canada's #1 export commodity. Canada exports crude oil, natural gas, electricity, uranium, and emerging LNG to the United States, Asia, and Europe — making it one of the most strategically important energy suppliers in the allied world.

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$130B+
Annual energy exports
98%
Of crude oil exports to US
2025
LNG Canada first cargo
#1
US electricity supplier
Crude Oil Exports

Crude oil export flows & infrastructure

Canada exports approximately 4 million barrels per day of crude oil — virtually all of it to the United States, via the Enbridge Mainline and Keystone Pipeline systems. Trans Mountain now provides a tidewater route to Asia.

Volume
Total Canadian Crude Exports
~4M bbl/day
2023 average pipeline export volume
Canada is the largest single supplier of crude oil to the United States. The Enbridge Mainline alone carries approximately 3 million bbl/day — more than any other crude pipeline system in the world. US Midwest (PADD 2) and US Gulf Coast (PADD 3) refineries are the primary destinations, many purpose-built to process Canadian heavy crude and bitumen.
Routing
Border Crossing Points & Routes
5 major
Key border crossing corridors
Enbridge Mainline — Superior, WI; then to US Midwest refineries. Keystone Pipeline — Wood River / Patoka, IL and Cushing, OK / Nederland, TX. Trans Mountain / Westridge — Burnaby, BC tanker terminal (Asia-Pacific). Milk River (SK/Montana) — conventional crude. Trans Mountain's completion in 2024 opened the first significant non-US outlet.
Trans Mountain
Tidewater Access — Asia Pacific
~590K bbl/day
New TMX expansion capacity (2024)
Trans Mountain Expansion (TMX) completed in 2024, tripling capacity to ~890K bbl/day total on the Edmonton–Burnaby corridor. The Westridge Marine Terminal can now load approximately 35 tankers per month for destinations including South Korea, Japan, China, and India. This is a structural shift in Canada's crude oil trade — real price discovery vs US-only market.
Revenue
Crude Oil Export Revenue
~$100B+
Annual crude export revenue (CAD estimate)
Crude oil and bitumen products represent Canada's single largest export category by value, typically accounting for ~14–17% of total merchandise exports. Revenue fluctuates with WTI/WCS pricing differentials. The WCS-WTI spread has historically penalized Canadian producers — tidewater access via TMX is expected to narrow this discount over time.
Natural Gas & LNG Exports

Natural gas exports & LNG Canada

Pipeline Gas to US
~8 Bcf/day
WCSB natural gas exports to US markets via TC Energy, Alliance Pipeline, and other interprovincial systems. Key US destinations: Pacific Northwest (Idaho, Oregon, Washington), Upper Midwest (Minnesota, Wisconsin), and eastern US markets. Canada supplies approximately 97% of US natural gas imports.
Proposed Additional LNG
Beyond LNG Canada Phase 2, additional proposed terminals include Cedar LNG (Haisla Nation / Pembina Pipeline, ~3 Mt/year), Ksi Lisims LNG (Nisga'a Nation / Western LNG), and Woodfibre LNG near Squamish, BC. If multiple terminals proceed, BC could become a top-5 global LNG exporter.
LNG Canada — Kitimat, BC
14 Mt/year Phase 1
LNG Canada's Phase 1 makes Canada a player in the global LNG market for the first time. With a shipping distance of ~10 days to Japan/South Korea vs ~20 days from the US Gulf Coast, Canadian LNG has a genuine cost-competitive advantage for Asian buyers. Phase 2 approval (another 14 Mt/year) would make LNG Canada comparable to Qatar's QATARGAS-1.
~10 days
Shipping to Japan
5 JV partners
Shell, PETRONAS, PetroChina, Mitsubishi, KOGAS
Phase 2
+14 Mt/yr proposed
Electricity Exports to US

Canadian electricity exports — provincial data

Canada is the largest single supplier of electricity to the United States. Hydro-Québec, Manitoba Hydro, BC Hydro, and Ontario all export significant volumes — predominantly clean hydropower.

Province Destination Markets Approx. Volume (TWh/yr) Revenue (CAD est.) Key Tie-Lines
Quebec New England, New York, NB ~35–40 TWh ~$2.0–2.5B/yr NYES, NE-ISO, Vermont, New Hampshire interconnects
British Columbia Pacific Northwest (WA, OR, ID) ~8–12 TWh (net) ~$400–600M/yr Bonneville (BPA) interconnect; Pacific DC Intertie adjacent
Ontario Michigan, New York, Minnesota ~5–8 TWh (net) ~$250–400M/yr MISO (Michigan), NYISO (New York) interconnects
Manitoba Minnesota, Wisconsin, ND ~8–10 TWh ~$400–500M/yr Manitoba Hydro–MISO long-term contracts (Minnpower, Minnesota Power)
New Brunswick Maine, northeastern US ~2–4 TWh (variable) Varies by market price Maine/ISO-NE interconnect; NB also acts as transit for QC→US

Sources

Canada Energy Regulator (CER) Electricity Trade Data · Statistics Canada Table 25-10-0019-01 · Natural Resources Canada Electricity Facts · Provincial utility annual reports (Hydro-Québec, Manitoba Hydro, BC Hydro, IESO)

Uranium Exports

Canada's uranium export profile

Canada is the world's second-largest uranium producer. Saskatchewan's Athabasca Basin supplies nuclear utilities in the US, EU, Japan, South Korea, and India — and underwrites allied nuclear defense programs.

Cameco Corporation
World's largest publicly traded uranium company
Cameco (headquartered in Saskatoon) operates McArthur River/Key Lake and Cigar Lake mines — two of the world's highest-grade uranium deposits. Long-term contracts supply US, European, and Asian nuclear utilities with uranium concentrates and UF6. Cameco also holds a 49% stake in Westinghouse Electric (reactor fuel and services).
~30M lbs
U3O8 annual production target
15+ years
Avg. contract term
🇺🇸 United States
Largest single buyer of Canadian uranium. US nuclear utilities rely on Canadian supply as a Russia-free alternative. Strategic importance elevated post-2022 Russia sanctions on uranium markets.
🇪🇺 European Union
EU nuclear utilities (France, Finland, Czech Republic, others) source Canadian uranium as part of supply diversification away from Russian TENEX/Rosatom contracts.
🇯🇵 Japan & 🇰🇷 South Korea
Asian nuclear utilities are significant Cameco contract holders. Japan's nuclear restart program (post-Fukushima) has increased demand for long-term non-Russian supply.
🛡️ Allied Defense
Canadian uranium underpins allied nuclear energy programs and, through conversion and enrichment chains, defense applications. IAEA safeguards and Canadian nuclear agreements govern all exports.
Trade Framework

Canada–US energy trade & CUSMA

The Canada–United States–Mexico Agreement (CUSMA/USMCA), in force since 2020, maintains the deep integration of North American energy markets established under NAFTA. The energy chapter eliminates tariffs on crude oil, natural gas, electricity, and petroleum products traded between the three countries — making North American energy trade functionally a single market for pricing and logistics purposes.

However, 2025 brought significant tariff risk. The Trump Administration's executive orders in early 2025 threatened 25% tariffs on Canadian goods, including energy products, triggering intense Canada–US negotiation. Canadian crude oil was ultimately exempted at 10% vs 25% for other goods — but the episode highlighted the political vulnerability of Canada's near-total US market dependence for crude oil, and strengthened the case for Trans Mountain tidewater diversification.

Key Trade Data Sources

  • CER Energy Trade Data — imports/exports by commodity (monthly)
  • Statistics Canada Table 25-10-0063-01 — energy production
  • Natural Resources Canada — Energy Factbook (annual)
  • Cameco Annual Report — uranium contracts and volumes
  • Global Affairs Canada — CUSMA energy chapter text
  • US EIA — Canada energy imports/exports data
Strategic Intelligence
Canada's export profile & NATO energy security

Canada's energy export profile is a strategic asset for the NATO alliance — and a vulnerability. Understanding trade flows, infrastructure constraints, and tariff risk is essential for allied energy security planning.

🌐
NATO Energy Security
Canada supplies ~60% of US crude imports, ~97% of US natural gas imports, and is the #1 electricity supplier to the US. This makes Canadian energy infrastructure a direct input to US military and industrial readiness — and a primary Allied supply chain asset.
⚠️
US Market Dependence Risk
Canada's ~98% crude dependence on the US market creates political vulnerability. The 2025 tariff episode demonstrated how quickly trade policy can threaten energy sector revenues. TMX, LNG Canada, and Atlantic LNG proposals are strategic diversification responses.
🔒
Uranium Supply Chain Sovereignty
Post-2022 sanctions on Russian uranium elevated Canadian supply to critical strategic status. Cameco's long-term contracts with US, EU, and Asian utilities position Canada as the democratic world's most reliable non-Russian uranium supplier — directly relevant to allied nuclear deterrence.
Data Access

Access energy export & trade flow data via API

Government trade analysts, defense contractors, and institutional investors use Reach Data to track Canada's energy export volumes, revenue flows, and trade dependencies in real time.

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