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2nd India-Canada Energy Dialogue
Jul 09, 2015

The Minister of State for Petroleum and Natural Gas Dharmendra Pradhan met Greg Rickford, Minister of Natural Resources of Canada, in Calgary, Alberta, Canada for the 2nd India-Canada Ministerial Energy Dialogue to discuss enhancing energy cooperation between the two countries in the areas of oil, natural gas, clean energy, power transmission and skill development. 

  • Canada’s growing energy relationship with India is helping create jobs and long-term prosperity for both countries. 

  • Both countries are ready to expand their strategic partnership through greater cooperation based on complementarity of energy interests.

  • Both countries highlighted their growing energy partnership by strengthening government and business relationships, to help create jobs and long-term economic prosperity for both countries.

  • Canada is a secure, reliable and responsible producer and supplier of energy to the world and has the resources and expertise needed to support India’s growing energy needs. 

The complementarity of energy interests between Canada and India has already resulted in substantive milestones conducive to building our bilateral energy relationship, including:

  • In 2009, India received Canadian oil for the first time and in 2014, India received over 1 500 barrels of Canadian crude per day.

  • Signed Expression of Intent in 2013 to collaborate between Alberta Petroleum Marketing Commission and Indian Oil Corporation Ltd.

  • In March 2014, Indian Oil Corporation Ltd acquired 10 % participating interest in an integrated LNG project—Pacific Northwest LNG proposed at Lelu Island, British Columbia.

  • On April 15, 2015, Canada enetered into a contract to supply over seven million pounds of uranium to India over the next five years for the generation of electricity.

  • Moving forward, Canada could potentially supply a significant amount of the 44 billion cubic metres of natural gas that India is forecasted to import annually by 2025. 

  • Indian companies are actively engaged in projects in Canada including projects by Pacific NorthWest LNG and A C LNG.

  • India-Canada discussed opportunities to increase Indian participation in mining and oil sands activities, to grow Canadian investments in India’s energy infrastructure and further technical collaboration in the areas of clean energy technologies, including solar, wind, power transmission and carbon capture and storage. 

  • Canada and India will also work together to enhance skill development and share knowledge to accelerate the adoption of clean energy technologies. 

  • Both countries agreed to intensify, government-to-government as well as business-to-business collaborations in the above noted themes.

  • Both countries have committed to continuing to explore opportunities of mutual benefit in the energy sector. 

  • India-Canada scheduled to meet again in 2016 in India for their 3rd India-Canada Ministerial Energy Dialogue.

Recent International Monetary Fund studies showed that India is expected to be the fastest growing economy during 2014-25. In addition, according to the International Energy Agency’s World Energy Outlook 2014, India’s oil demand growth between 2013 and 2040 would be the highest in the world.

 


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