New Delhi, March 25 -- Canada is jumping on an unexpected opportunity presented by the war in Iran to gain more market share in global energy markets.

"With Iran closing the Strait of Hormuz, it has truly never been clearer that oil and gas from reliable producers like Canada is what our allies need," Canadian Minister of Energy and Natural Resources Tim Hodgson said Monday. Hodgson was speaking at S&P Global's annual energy conference in Houston and was flanked by Canadian government officials and industry executives.

The vast majority of Canada's energy exports head to the U.S. But in recent years, Canada has also been sending shipments of liquefied natural gas and oil to Asian countries, including China.

Jackie Forrest, executive di...