Canada LNG Import on Indian Menu
By Aiswarya Lakshmi
Friday, July 10, 2015
India is considering importing liquefied natural gas from Canada towards meeting its requirements, the petroleum ministry said.
Petroleum Minister Dharmendra Pradhan met Canadian Natural Resources Minister Greg Rickford to discuss enhancing energy cooperation between the two countries, a statement said.
Moving forward, Canada could potentially supply a significant amount of the 44 billion cubic metres of natural gas that India is forecasted to import annually by 2025. Two Indian companies are currently invested in projects in Canada being proposed by Pacific NorthWest LNG and A C LNG stands in the statement.
The two Ministers discussed enhancing energy cooperation between the two countries in the areas of oil, natural gas, clean energy, power transmission and skill development, they said in a joint statement.
State-run oil marketer Indian Oil Corp has taken a 10 percent stake in an integrated LNG project - the Pacific NorthWest LNG proposed at Lelu Island, British Columbia, the ministry said.
"India and Canada share common values and ideals and believe in long-term sustained partnerships. Our energy cooperation is steadily growing but the potential is much higher - Let's convert the potential into reality," the statement quoted Pradhan as saying at the meeting.
Rickford said: "Canada's growing energy relationship with India is helping create jobs and long-term prosperity for both of our countries."