India and Canada, on Tuesday, signed a joint statement to deepen bilateral cooperation across conventional and clean energy sectors, marking a significant step toward strengthening energy security, trade, and long-term investment ties between the two countries. The agreement was announced on the sidelines of India Energy Week 2026 held in Goa.
The joint statement was issued following a bilateral meeting between Union Minister for Petroleum and Natural Gas Hardeep Singh Puri and Canada’s Minister of Energy and Natural Resources Timothy Hodgson, who attended India Energy Week for the first time at the Cabinet level. The meeting also marked the launch of the renewed India–Canada Ministerial Energy Dialogue.
Both Ministers underscored the critical role of energy security and diversified supply chains in ensuring economic stability and long-term growth for their respective countries. The engagement followed directions given by the Prime Ministers of India and Canada during their interaction at the G7 Summit in June 2025 in Kananaskis, Canada, where both leaders emphasised the need to restart senior-level and working-level engagements.
Recognising the complementary nature of their energy sectors, the two sides highlighted strong potential for collaboration in energy fuels. Canada reiterated its ambition to emerge as an energy superpower in clean and conventional energy, supported by export diversification. India, positioned at the centre of the global energy landscape, is projected to account for over one-third of global energy demand growth over the next two decades.
Canada highlighted its expanding liquefied natural gas (LNG) projects, increasing crude oil exports to Asian markets through the Trans Mountain Expansion Pipeline, and advancing liquefied petroleum gas (LPG) exports from its west coast. India, currently the world’s third-largest oil consumer, fourth-largest LNG importer, and third-largest LPG consumer, also outlined its efforts to scale up domestic oil production, expand refining capacity, and increase the share of natural gas in its energy mix.
The Ministers agreed to deepen bilateral energy trade, including the supply of Canadian LNG, LPG, and crude oil to India, alongside the supply of refined petroleum products from India to Canada.
On investment cooperation, Canada highlighted the launch of its Major Projects Office in 2025 and the acceleration of energy and resource projects representing investments exceeding $116 billion. India, in turn, reiterated its energy sector reforms and highlighted an investment opportunity of approximately $500 billion across the energy value chain. Both sides agreed to facilitate increased reciprocal investments in their respective energy sectors.
The joint statement also emphasised collaboration on climate-related objectives, including emissions reduction in conventional energy value chains through carbon capture, utilisation and storage, and the deployment of cleaner technologies. The two countries identified opportunities for cooperation in renewable energy, hydrogen, biofuels, sustainable aviation fuel, battery storage, critical minerals, clean technologies, electricity systems, energy supply chain resilience, and the application of artificial intelligence in the energy sector.
The Ministers further noted ongoing cooperation through the Global Biofuels Alliance, where Canada participates as an observer, aimed at accelerating the global deployment of biofuels.
Both sides reaffirmed their commitment to sustained government-to-government dialogue, enhanced business-to-business engagement, and cooperation through bilateral and multilateral mechanisms to advance shared energy security and climate objectives.
