New Delhi: India and Canada have 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.
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. Canada shared that it is fast-tracking major energy and resource projects, supported by over $116 billion in investments announced in 2025.
India offers $100 billion opportunity in energy sectorNew Delhi: The country is advancing rapidly towards becoming the world’s third-largest economy and will play a decisive role in the global energy demand-supply balance, Prime Minister Narendra Modi has said. In an interaction with CEOs of the global energy sector as part of the ‘India Energy Week’ (IEW) 2026, PM Modi highlighted India’s robust economic momentum, drawing attention to an investment potential of around $100 billion in exploration and production, citing investor-friendly policy reforms introduced by the government. PM Modi also underscored the $30 billion opportunity in Compressed Bio-Gas (CBG) at the meeting, attended by Union Minister for Petroleum and Natural Gas, Hardeep Singh Puri, and the Minister of State for Petroleum and Natural Gas, Suresh Gopi. The CEOs also expressed strong confidence in India’s growth trajectory, conveying their interest in expanding and deepening their business presence in India, citing policy stability, reform momentum and long-term demand visibility. The roundtable saw participation from 27 CEOs and senior corporate dignitaries. |
