Canada seeks to boost energy trade with India to cut U.S. dependence

Energy Minister Tim Hodgson said Canada wants to diversify after exporting about 98% of its energy to the United States and is exploring supplying crude oil, liquefied natural gas and uranium to India; Canada currently does not export crude or LNG to India.

Canada is looking to increase energy exports to India as part of an effort to diversify its customer base away from heavy reliance on the United States. Energy Minister Tim Hodgson told the Indian Energy Week conference that sending nearly all of Canada’s energy to a single market was a strategic mistake and said India offers rapidly growing demand. He cited potential Canadian supplies of crude oil, liquefied natural gas (LNG) and uranium to India. Officials noted Canada currently does not export crude or LNG to India. Key details: - Energy Minister Tim Hodgson spoke at the Indian Energy Week conference about diversifying export markets. - Hodgson said Canada could supply crude oil, liquefied natural gas and uranium to India. - Canada currently does not export crude oil or LNG to India, which imports crude mainly from Russia, Iraq and Saudi Arabia and LNG mainly from Qatar, according to Kpler data cited in reporting. - Hodgson described exporting the vast majority of Canadian energy to one customer as a strategic error and framed India as a growth market. - Canadian officials said they are building pipelines to the West Coast and have three pipelines already in place, with plans to build more. - India’s recent push to expand nuclear generation was noted as a factor that could support increased uranium supply from Canada. Summary: Canada’s government is signalling a shift toward broader energy markets by promoting trade ties with India and investing in West Coast infrastructure. Specific timelines and the details of any new export agreements or shipments to India are undetermined at this time.