India, Canada agree to deepen energy trade

New Delhi: India and Canada agreed to deepen energy ties and expand cooperation to critical minerals after a bilateral meeting between their energy ministers on Tuesday.

Oil Minister Hardeep Singh Puri and Canadian Energy Minister Tim Hodgson met on the sidelines of India Energy Week on Tuesday to discuss opportunities to increase bilateral energy trade. “The ministers affirm to deepen bilateral energy trade, including the supply of Canadian LNG, LPG and crude oil to India, and the supply of refined petroleum products from India to Canada,” according to an official joint statement issued after the meeting.

The ministers also agreed to “deepen long-term partnerships aimed at facilitating increased reciprocal investment in the Indian and Canadian energy sectors,” the statement said.


The partnership would extend to Canada’s critical minerals sector, Puri said. India will soon send an official delegation to Canada to assess and initiate detailed discussions on a potential critical minerals partnership, Oil India Chairman Ranjit Rath said. The focus would be on lithium and cobalt, which are abundant in Canada and critical for solar panels and electric vehicles.

“During the meeting, the ministers affirmed the immense importance that energy security and diversity of supply have for the safety, wellbeing and economic vitality of both countries,” the statement said. An India–Canada Ministerial Energy Dialogue was also launched.