Canadian Prime Minister Mark Carney has highlighted Canada's potential to meet India's increasing energy demands, particularly in the wake of the war in West Asia impacting fossil fuel sourcing.
Carney emphasized that Canada is 'well-positioned' to seize this opportunity, citing the country's status as an energy superpower and its ability to supply the world's lowest carbon responsibly produced liquefied natural gas (LNG) from its west coast.
However, it's worth noting that Canada has not yet built out the capacity to export oil and gas at a level that will matter to consumers like India. The country's first cargo of LNG to arrive in Asia occurred just last year, and multiple LNG projects, pipelines, and ports are currently under development.
The joint statement issued after the bilateral meeting between the PMs earlier this month reflected Canada's ambition to become a major global supplier of LNG, with a goal of increasing LNG exports to 1 million tonnes per annum by 2030 and doubling it over the longer run.
Canada's Minister of Energy and Natural Resources Tim Hodgson has also emphasized the importance of strategic engagement with India, stating that it is 'not optional' but 'essential' for the country's energy ambitions.
