Energy: Husky makes case for Asia

“… logic will drive Canada’s natural resources economy to diversify away from the United States and find a connection to consumers in Asia, as higher prices and welcoming markets win over concerns about linkages to a region, particularly China, with different values.

“I think when you have pretty well zero linkage, it’s premature to start thinking in terms getting too closely linked,” he said.

“Longer term, we have to understand that a monopsony is not a good thing for any seller to be placed with,” he said, referring to Canada’s dependency on the U.S. as its single energy export market.

“Once you get access to an international market you don’t have to worry about being too closely linked. Asia is a continent. Once you are on the water, you are linked to the world. It’s important for Canada to stop being in a landlocked position, with respect to hydrocarbons and with any of its other resources.”

Mr. Ghosh and his company understand that better than most.

Husky is controlled by Hong Kong billionaire Li Ka Shing. Mr. Ghosh relocated to Calgary from India last year, capping a global career that included running in India Vodafone Essar Ltd., a successful cellular phone company, and a variety of executive positions with Mr. Li’s Hutchison Whampoa, Procter &Gamble, Carling O’Keefe and PepsiCo.

The Calgary-based integrated oil and gas company, one of Canada’s largest, is leading the way in building the most substantial Asian business of any Canadian sector player.

Get the full story here.

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