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Canada, India Pledge to Grow Oil, Petroleum Trade in Energy Reset
Canada and India will pledge to expand trade in oil and gas as the countries reboot their relationship after a diplomatic chill.
Ottawa will commit to ship more crude oil, liquefied natural gas and liquefied petroleum gas to India, while New Delhi will send more refined petroleum products to Canada, following a meeting between Canadian Energy Minister Tim Hodgson and Petroleum and Natural Gas Minister Hardeep Singh Puri, according to a joint statement seen by Bloomberg News.
The ministers meet at India Energy Week in Goa on Tuesday, using the event to relaunch a “ministerial energy dialogue.” The mechanism, once the main channel for energy cooperation between the two countries, fell dormant amid an explosive dispute over the killing of a Canadian Sikh activist.
The renewed push marks one of Prime Minister Mark Carney’s major efforts to diversify Canada’s export markets at a time of escalating trade tensions with the US. It also reflects his government’s shift toward pragmatic, economy-first diplomacy with major Asian partners
The two countries will also commit to facilitating greater reciprocal investment in each other’s energy sectors and to exploring collaboration in areas including hydrogen, biofuels, battery storage, critical minerals, electricity systems and the use of artificial intelligence in the energy industry, according to the statement.
The relaunch of the dialogue signals that both governments see untapped potential – and strategic value – in tightening an energy relationship that had been left
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