India interested in oil and gas as well as uranium from Canada

Barely a day after former cabinet minister Jim Prentice told attendees at the Oil and Money Conference in London that Canada needs to establish more international markets for its oil and gas, the Indian High Commissioner to Canada said that his country would be a ready customer for that oil. Nirmal Verma said that India would be interested in investing in the proposed Energy East Pipeline that would take Alberta crude to Atlantic ports, once the regulatory issues are resolved and the project appears ready to move forward. Indian investment could be in liquefaction plants, he suggested.

India’s High Commissioner to Canada says his country could be interested in investing in gas liquefaction facilities in eastern Canada. The two countries have finalized terms for the resumption of exports of Canadian uranium to India.

India and Canada have just signed a nuclear cooperation agreement that will allow Canada to resume selling uranium to India for reactor fuel. That trade in uranium had been suspended for decades but is now set to resume.

As the world’s fourth largest consumer of energy, India is a natural market for Canada, but Canada is not yet a major energy supplier. Now that energy discussions between the two countries are taking place at the ministerial level, more opportunities could be identified.

In Prentice’s remarks to the Oil and Money Conference, he emphasized that Canada was lagging in building the necessary infrastructure to support the expansion of Canada’s markets from the traditional US-dominated pattern that has been in place for decades. Enbridge, Canada’s largest transporter of oil, now says it is talking with BC natural gas producers about building a pipeline to the coast. The CEO of Enbridge, Al Monaco, said his company was “pretty bullish” on natural gas.

Several major international energy companies are interested in exporting LNG from Canada, including Royal Dutch Shell, Chevron, BG Group and CNOOC.

Did you miss this?

Other Popular Stories

  • Global car sales up, luxury auto market surging in Canada: Scotiabank
  • Oil supply rising even as demand growth falls; investment likely to be slashed further in 2017
  • Norwegian group claims world's first seabed energy storage technology
  • Canada Goose expanding workforce, launching global ad campaign
  • Audit pans government's climate change progress
  • Mexican oil and gas re-opened to foreign companies after 76 years
  • Cap and trade law passes in Ontario, carbon pricing set to begin
  • Provinces of Alberta and B.C. cashing in on drilling rights; surpasses 2016 as commodities strengthen
  • How Greener Grids Can Stay Lit
  • Manufacturing recovers ground in January: GDP up 0.2 per cent
  • Pembina set for biggest expansion in its history
  • Microgrids coming to two Ontario power utilities
  • BMW unveils i3, the electric car of the future
  • Toronto Hydro testing underwater energy storage system for backup power
  • Surveillance systems company receives $75M federal investment
  • NASA Studies Climate Change in Canada’s Skies
  • Héroux-Devtek subsidiary to provide landing gear for Boeing 777
  • Large CSeries order builds momentum for Bombardier
  • Little support in auto industry for Canada/Korea free trade deal
  • Economy outperforms in January; manufacturing leads broad-based growth
Scroll to Top