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Canada and India Highlight Growing Energy RelationshipCALGARY, July 5, 2015 /CNW/ - The Honourable Greg Rickford, Canada's Minister of Natural Resources, and Shri Dharmendra Pradhan, India's Minister of State (Independent Charge) Petroleum and Natural Gas, today met in Calgary, Alberta, Canada, for the 2nd India-Canada Ministerial Energy Dialogue to discuss enhancing energy cooperation between the two countries in the areas of oil, natural gas, clean energy, power transmission and skill development. They highlighted Canada and India's growing energy partnership, by strengthening government to government and business to business relationships, to help create jobs and long-term economic prosperity for both countries. Canada is a secure, reliable and responsible producer and supplier of energy to the world and has the resources and expertise needed to support India's growing energy needs. In 2012, India was the fourth-largest energy consumer in the world. Recent International Monetary Fund studies showed that India is expected to be the fastest growing economy during 2014-25. In addition, according to the International Energy Agency's World Energy Outlook 2014, India's oil demand growth between 2013 & 2040 would be the highest in the world. Indeed, the complementarity of energy interests between Canada and India has already resulted in substantive milestones conducive to building our bilateral energy relationship, including:
Moving forward, Canada could potentially supply a significantamount of the 44 billion cubic metres of natural gas that India is forecasted to import annually by 2025. Two Indian companies are currently invested in projects in Canada being proposed by Pacific NorthWest LNG and A C LNG. Furthermore, the Ministers discussed opportunities to increase Indian participation in mining and oil sands activities, to grow Canadian investments in India's energy infrastructure and further technical collaboration in the areas of clean energy technologies, including solar, wind, power transmission and carbon capture and storage. Canada and India will also work together to enhance skill development and share knowledge through university collaboration to accelerate the adoption of clean energy technologies. The Ministers have committed to continuing to explore opportunities of mutual benefit in the energy sector. They are scheduled to meet again in 2016 in India for their 3rd India-Canada Ministerial Energy Dialogue. Quick Facts
Quotes "Canada's growing energy relationship with India is helping create jobs and long-term prosperity for both of our countries. We stand ready to expand our strategic partnership through greater cooperation based on our complementarity of energy interests." Greg Rickford "India and Canada share common values and ideals and believe in long-term sustained partnerships. Our Energy Cooperation is steadily growing but the potential is much higher – Let's convert the potential into reality." Shri Dharmendra Pradhan, Associated Links
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SOURCE Natural Resources Canada |