Canada and India Strengthen Energy Cooperation Amid Trade Expansion Efforts
Canada aims to diversify energy exports to India, establishing a framework for a 10-year uranium purchase worth $2.6 billion. The emerging energy partnership is set to enhance bilateral trade and investment, with potential growth in sectors like liquefied natural gas (LNG) and critical minerals.
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Canada is intensifying energy cooperation with India, highlighted by a 10-year agreement for uranium purchases totaling $2.6 billion. The Canadian High Commissioner, Christopher Cooter, noted that Canada is establishing infrastructure to support energy exports to India, previously focused on the U.S. market.
Canada ranks as the second-largest hydroelectric producer and fourth-largest crude oil producer globally. Discussions around increasing liquefied petroleum gas (LPG) exports are ongoing, with production ramp-up expected to commence in 2027.
Additionally, Cooter emphasized the goal of diversifying crude oil exports and enhancing trade relations, which currently see only $5 billion in goods exported to India. Canadian pension funds have invested around $110 billion in India, and Canada is also planning to supply critical minerals and lumber. The presence of 400,000 Indian students in Canada further strengthens the bilateral ties.
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