Energy & power

Canada first

• Broad sectoral prohibitions were repealed in February 2026; targeted Schedule 1 listings remain. Screen every counterparty and beneficial owner. GAC Syria sanctions; SOR/2011-114
• Delistings announced in Feb 2026 were partly framed around recovery-critical, state-affiliated actors — including petroleum-related entities on the official list — that does not mean all energy counterparties are cleared. GAC backgrounder
• Certain chemical / controlled-goods restrictions may still apply depending on goods and end-use; verify against the regulations and GAC guidance, not this brief. GAC guidance
• U.S., EU, or UK rules can still block a deal that is lawful under Canadian sectoral easing (operational analysis).

Electricity & power-system services

Demand evidence (primary): World Bank reconstruction best estimate US$216B (range $140–345B), of which US$82B infrastructure including power — World Bank, 21 October 2025. IDA US$146M Syria Electricity Emergency Project (transmission rehab, substations, technical assistance) — World Bank, 25 June 2025.

Canadian capability class (not Syria sales proof): Canada exported $20.2B environmental and clean technology products in 2024 — StatCan The Daily, 17 February 2026.

Canadian contribution mode: engineering, EPC-adjacent services, grid equipment where export-controlled goods clear, renewables/storage integration — not “own the national utility.”

Paraphrased secondary market colour (Investor Guide — electricity):

• A large, persistent supply–demand gap shapes the sector; households, services, and industrial recovery all pull demand.
• Secondary research often flags solar, rehabilitation, and grid modernization as nearer-term themes than greenfield mega-builds alone.
• Transmission losses and limited evacuation capacity can bind projects even when generation interest is high.
• Correspondent banking and FX friction frequently decide whether an “investable” concept becomes a closable transaction (analysis).

Oil (service-led rehab)

Ranked below power services in SyriaInsight contribution research: near-term Canadian-facing opportunity is more often service-led rehabilitation than speculative upstream equity. SEMA repealed oil-related sectoral bans among other measures — GAC Syria; SOR/2026-23.

Paraphrased secondary market colour (Investor Guide — oil):

• Recovery upside is discussed against a fragile operating environment; security and infrastructure damage remain material in producing regions.
• Near-term entry is often framed as service-led rehabilitation rather than capital-heavy upstream bets.
• Midstream and refining constraints can bottleneck value even if upstream activity restarts.
• Payment structuring and compliance thresholds for international transactions are recurring execution risks (analysis).

Gas (service-led rehab)

Paraphrased secondary market colour (Investor Guide — gas):

• Supply gaps and import dependence feature strongly; rehabilitation of fields and midstream assets is a common near-term theme.
• Gas-to-power linkages connect this page to the electricity snapshot above.
• Service provision, joint ventures, PPP / BOO / BOT for infrastructure, and equipment/technology supply are frequently listed entry pathways in secondary guides.
• Banking, FX convertibility, and repatriation challenges affect project bankability as much as subsurface potential (analysis).