Financing:

• Canada is investing $200M in the $5.96B Cedar LNG Project, a Haisla Nation–Pembina partnership in Kitimat, B.C. The hydro-powered facility will create jobs, boost exports, and produce low-carbon LNG.

Other:

• The Organization for Economic Co-operation and Development warned that U.S. tariff hikes will slow economic growth in North America while increasing inflation, forcing central banks to keep interest rates higher for longer. A broader trade war would further weaken global investment, with the U.S. and its neighbors facing the steepest economic downturns.

  • Canada: Growth forecast cut to 0.7% for both 2024 and 2025 (previously 2.0% for both years).

  • United States: Growth to slow to 2.2% in 2024 and 1.6% in 2025 (down from 2.4% and 2.1%).

  • Mexico: Economy expected to contract by 1.3% in 2024 and 0.6% in 2025 (previously forecast to grow 1.2% and 1.6%).

• China has not imported U.S. liquefied natural gas (LNG) for 40 days, with no tankers currently en route, according to Bloomberg. The halt stems from the ongoing U.S.-China trade dispute, where China imposed a 15 per cent tariff on U.S. LNG in response to President Donald Trump’s tariff hikes on Chinese imports.

• Statistics Canada said that annual inflation jumped to 2.6 per cent in February, up from 1.9 per cent in January, as the federal government’s temporary tax break ended mid-month. The increase exceeded economists' expectations of 2.2 per cent.

• OPEC+ will cut output by up to 435,000 bpd monthly until June 2026 to offset overproduction, exceeding its planned 138,000 bpd increase starting in April.

• New Canadian Prime Minister Mark Carney has called an election for April 28.