Exxon Favors Gas Over Oil Sands in M&A Deals: Corporate Canada

International investors including Exxon Mobil Corp. are favoring natural gas over oil sands acquisitions in Canada as the less-expensive way to supply Asian markets.

Three of the five largest energy acquisitions announced by foreign buyers in Canada this year, valued at a combined $9.8 billion, were for natural gas assets, according to data compiled by Bloomberg. The trend will continue next year as liquefied natural gas developers move closer to commissioning projects, said Robert Mark, who helps oversee C$4.5 billion ($4.5 billion) at MacDougall, MacDougall & MacTier Inc. in Montreal.