India-Canada Energy Cooperation

Canada-India Track 1.5 Dialogue Paper No. 7

July 7, 2020

The energy sectors of India and Canada complement each other: India is a large and growing oil importer, while Canada is a large and growing exporter of oil and gas. However, as they invested in oil fields across the world, Indian oil companies have missed out on the Canada story. Investing in Canada’s oil sector can help India guard against the risk of spikes in oil prices and provide Canada with long-term demand security. In this paper, first presented as a backgrounder at Track 1.5 meetings in Mumbai, India, in November 2019, Gateway House outlines its findings on the feasibility of Indian investment in Canada’s petroleum sector, suggesting a path forward and best prospects for investment.

Part of Series

Canada-India Track 1.5 Dialogue

Canada-India Track 1.5 Dialogue is a collaboration between CIGI and Gateway House: Indian Council on Global Relations. The Canada-India Track 1.5 Dialogue works jointly on multilateral issues and identifies areas where improved cooperation could benefit both countries. To address these challenges, the papers produced under this partnership will help to develop policy recommendations to promote innovation and navigate shared governance issues that are integral to the continued growth of Canada-India bilateral relations.

About the Author

Amit Bhandari is a fellow in the Energy & Environment Studies Programme at Gateway House: Indian Council on Global Relations and has worked in the business media and financial markets for more than a decade.