The Union government is working to deepen energy cooperation with Canada, with discussions now translating into concrete investments and project engagements, Petroleum and Natural Gas Minister Hardeep Singh Puri said in the press conference on the sidelines of the India Energy Week in Goa on Thursday.
“The new government in Canada has demonstrated strong intent to advance business ties with India, particularly in the energy sector. Indian Oil Corporation (IOCL) has already held meetings at the Chairman level and has made investments in Canada, signalling growing commercial engagement,” he added.
Highlighting discussions with the Premier of British Columbia, Puri said that the province is in the process of setting up six liquefied natural gas (LNG) plants. Once operational, these facilities could enable the extraction and liquefaction of natural gas for export, including potential supplies to India.
Canada, which holds an estimated 100 years of energy reserves, is keen to expand energy exports to India, the Canadian energy minister conveyed. At the same time, India is continuing to diversify its energy sources, with growing supplies coming from regions such as Guyana, Suriname and Brazil.
On the upstream side, Puri said ONGC is actively signing agreements with energy companies across the globe, strengthening India’s international energy footprint. While ONGC’s market capitalisation may appear relatively modest at present, broader performance across Indian energy companies remains strong.
Puri also confirmed that the Canadian Prime Minister is scheduled to visit India, with energy cooperation and critical minerals expected to feature prominently in the discussions. Both sides are already engaged in substantive talks, and positive outcomes are anticipated, particularly in the area of critical mineral supply chains.
