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India, Canada Forge Energy Pact to Boost Trade, Security at Goa Summit

India and Canada have signed a joint statement to strengthen bilateral energy cooperation during India Energy Week 2026 in Goa. The agreement, following a meeting between ministers Hardeep Singh Puri and Timothy Hodgson, aims to deepen trade in areas like Canadian LNG and crude oil for India's growing market. Both nations highlighted massive investment opportunities, with Canada fast-tracking projects worth over $116 billion and India outlining reforms across a $500 billion energy value chain. The partnership is framed as critical for mutual energy security and diversified supply chains, aligning with directions from both countries' Prime Ministers.

Key Points: India-Canada Energy Deal: LNG, Oil Trade & Security Pact

  • Renewed Ministerial Energy Dialogue launched
  • Focus on LNG, crude oil & LPG trade
  • $500bn Indian energy investment opportunities
  • Over $116bn Canadian projects fast-tracked
2 min read

India, Canada agree to boost energy cooperation

India & Canada sign joint statement to boost energy cooperation, trade in oil, gas & clean energy, launching a renewed Ministerial Energy Dialogue.

"energy security and diversified supply chains are critical for the economic growth, safety and overall well-being of both countries - Joint Statement"

New Delhi, Jan 27

India and Canada on Tuesday signed a joint statement to strengthen cooperation in the energy sector during the India Energy Week 2026 held in Goa.

The agreement marks a renewed push to deepen bilateral ties in areas such as oil, gas, clean energy and long-term investments.

The joint statement followed a bilateral meeting between India's Minister of Petroleum and Natural Gas, Hardeep Singh Puri, and Canada's Minister of Energy and Natural Resources, Timothy Hodgson.

Hodgson's participation at India Energy Week 2026 was significant as it marked the first time a Canadian Minister attended the event.

During the meeting, both ministers formally launched the renewed India-Canada Ministerial Energy Dialogue.

They stressed that energy security and diversified supply chains are critical for the economic growth, safety and overall well-being of both countries.

The meeting was held in line with the direction given by the Prime Ministers of India and Canada during their interaction on the sidelines of the G7 Summit in June 2025 in Kananaskis, Canada.

At that time, both leaders had underlined the need to restart senior-level and working-level engagements between the two countries.

India and Canada acknowledged that their energy sectors complement each other well. Canada aims to become a global energy superpower in both clean and conventional energy, with a strong focus on expanding exports.

India, on the other hand, is emerging as a central player in the global energy market due to its large and growing demand.

Canada highlighted its expanding capabilities in liquefied natural gas, crude oil, and liquefied petroleum gas exports, especially to Asian markets.

India noted that it is the world's third-largest oil consumer, fourth-largest LNG importer and third-largest LPG consumer, with one of the largest refining capacities globally.

India is also expected to account for more than one-third of the growth in global energy demand over the next two decades.

Both sides agreed to deepen bilateral energy trade. This includes the supply of Canadian LNG, LPG and crude oil to India, as well as the supply of refined petroleum products from India to Canada.

The ministers also expressed interest in encouraging stronger commercial and investment partnerships in each other's energy sectors.

Canada shared that it is fast-tracking major energy and resource projects, supported by over $116 billion in investments announced in 2025.

India, meanwhile, highlighted policy reforms and investment opportunities worth around $500 billion across the entire energy value chain.

- IANS

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Reader Comments

S
Sarah B
Good to see relations improving after the diplomatic strains. The focus on clean energy alongside oil and gas is the right way to go. Both countries have a lot to gain from technology sharing in renewables. A pragmatic move by both governments.
P
Priya S
While the agreement sounds good on paper, I hope our negotiators ensured we get favorable terms. We are the world's third-largest oil consumer, our bargaining power is huge. The deal must prioritize affordable LNG for our growing cities and industries, not just benefit Canadian exporters.
R
Rohit P
$500 billion investment opportunity in India's energy sector! This is massive for job creation and infrastructure. If Canadian companies invest in our solar and wind projects, it's a win-win. Our refining capacity is a strength we should leverage more.
M
Michael C
Interesting development. Canada fast-tracking projects with over $116 billion in investments shows they are serious. India's energy demand growth is undeniable. This partnership could be a cornerstone for stability in the Indo-Pacific energy markets. The first Canadian minister attending India Energy Week is a significant signal.
K
Kavya N
I appreciate the focus on clean energy. But as an Indian citizen, I have a respectful criticism: we must ensure these deals don't lock us into long-term fossil fuel dependence. The dialogue should aggressively push for joint ventures in green hydrogen, battery storage, and smart grids. Our future energy mix needs to be sustainable.

We welcome thoughtful discussions from our readers. Please keep comments respectful and on-topic.

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