{"id":548193,"date":"2026-01-28T02:45:11","date_gmt":"2026-01-28T02:45:11","guid":{"rendered":"https:\/\/www.europesays.com\/us\/548193\/"},"modified":"2026-01-28T02:45:11","modified_gmt":"2026-01-28T02:45:11","slug":"india-an-ideal-target-for-increased-canadian-energy-exports-analysts-say","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/us\/548193\/","title":{"rendered":"India an ideal target for increased Canadian energy exports, analysts say"},"content":{"rendered":"

Open this photo in gallery:<\/a><\/p>\n

Workers walk by crude oil tanks at Cenovus’ Sunrise oil facility northeast of Fort McMurray, Alberta, in 2023.Victor R. Caivano\/The Associated Press<\/p>\n

Ottawa\u2019s plan to increase energy exports to India<\/a> makes sense given how the South Asian <\/b>country\u2019s massive population and rapid economic growth have boosted its demand for fossil fuels, analysts say.<\/p>\n

Energy Minister Tim Hodgson told the India Energy Week conference in Goa on Tuesday that Canada is \u200dlooking to boost energy exports<\/a> to India to diversify its customer base and cut dependence \u200don \u200bsupply to the United States. <\/p>\n

Exporting 98 per cent of Canadian energy to \u2060the U.S. is a \u201cstrategic blunder,\u201d Mr. Hodgson said. \u201cThe fastest-growing demand for energy in the world will be in India,\u201d \u200che added. <\/p>\n

Susan Bell, senior vice-president of commodity markets at Rystad Energy, said that exporting Canadian fossil fuels to India is \u201cdefinitely worth pursuing.\u201d<\/p>\n

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The country already has a fairly large refining sector that processes roughly six million barrels a day of crude, and it has plans to grow its petrochemical sector, Ms. Bell said. <\/p>\n

\u201cSo it\u2019s not just an opportunity for crude oil, it could also be an opportunity for naphtha and potentially even ethane,\u201d she said. <\/p>\n

Canada does sell crude to India, but at roughly 150,000 barrels a day, it\u2019s a sliver of the country\u2019s overall export market. The bulk of India\u2019s heavy crude imports come from Iraq, and could reasonably be substituted with Canadian oil, Ms. Bell said. <\/p>\n

The Canadian crude that heads to India typically does so via the U.S. Gulf Coast at the rate of about one Very Large Crude Carrier ship a <\/b>month, said Rory Johnston, an oil analyst with Commodity Context. <\/p>\n

Carney likely to visit India in March as Canada makes efforts to diversify trade<\/a><\/p>\n

A new pipeline to a deepwater port that can handle VLCCs would open up India as a more accessible market from Canadian shores, not just from the U.S. re-export market, he added.<\/p>\n

With oil demand from China set to plateau over the next couple of decades, \u201cIndia always comes up as the next big engine for global oil demand,\u201d Mr. Johnston said. <\/p>\n

Daily oil demand in India grew at a much slower rate than expected in 2025, rising by roughly 100,000 barrels, rather than the 300,000 forecast by various agencies. But Mr. Johnston said demand in India is expected to accelerate in 2026. <\/p>\n

The country is \u201cabsolutely\u201d a strategic market to target, he said, given its growing energy demands and massive population.<\/p>\n

Even if Canada\u2019s energy sector wasn\u2019t dealing with damaging American trade policies, he said, \u201cwe\u2019ve already saturated the U.S. market.\u201d <\/p>\n

Ms. Bell said there is also opportunity for other products such as liquefied natural gas, for which India imports about 5 per cent of the world\u2019s supply. <\/p>\n

\u201cChina\u2019s market is three times the size of India\u2019s in terms of LNG imports, but India\u2019s market is substantial, and there\u2019s no reason why we can\u2019t participate in that market,\u201d she said. <\/p>\n

India has averaged 5.8-per-cent annual GDP growth since 2016, according to a November analysis from Stuart Bergman, chief economist at Export Development Canada. <\/p>\n

Opinion: Canada and China have an opportunity to build an energy partnership<\/a><\/p>\n

Ms. Bell said that while India has gone a long way toward industrializing, \u201cthey have a lot more to do.\u201d<\/p>\n

\u201cI think it\u2019s a smart market to target.\u201d<\/p>\n

Federal government data list India as Canada\u2019s seventh-largest goods and services trade partner, with mineral fuels and oils worth around $767-million, or 14.5 per cent of total merchandise exports.<\/p>\n

Dinesh Patnaik, India\u2019s High Commissioner to Canada, said in an interview that there is a \u201chuge field\u201d of opportunity for more trade co-operation between the two countries, including for energy, fertilizer, nuclear and critical minerals. <\/p>\n

\u201cWe want to tie up with everybody possible \u2013 especially countries like Canada \u2013 to be able to work out deals together.\u201d<\/p>\n

With reports from Steven Chase (in Ottawa) and Reuters <\/p>\n","protected":false},"excerpt":{"rendered":"Open this photo in gallery: Workers walk by crude oil tanks at Cenovus’ Sunrise oil facility northeast of…\n","protected":false},"author":3,"featured_media":548194,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[2148,2138,671,104,2132,692,64,2147,2131,2143,2144,2140,2133,2130,79,407,746,2142,2137,2159,2134,2135,454,2139,1165,728,2149,108,2154,2155,2157,2152,2156,2150,2153,2136,85,2146,80,2145,2151,1458,158,1164,2141,67,132,68,1154,107,2158],"class_list":{"0":"post-548193","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-alberta","9":"tag-arts-news","10":"tag-bc","11":"tag-breaking-news","12":"tag-breaking-news-video","13":"tag-british-columbia","14":"tag-business","15":"tag-canada","16":"tag-canada-news","17":"tag-canada-sports","18":"tag-canada-sports-news","19":"tag-canada-trafficcanada-weather","20":"tag-canadian-breaking-news","21":"tag-canadian-news","22":"tag-economy","23":"tag-education","24":"tag-environment","25":"tag-federal-government","26":"tag-foreign-news","27":"tag-globe-and-mail","28":"tag-globe-and-mail-breaking-news","29":"tag-globe-and-mail-canada-news","30":"tag-government","31":"tag-life-news","32":"tag-lifestyle","33":"tag-local-news","34":"tag-manitoba","35":"tag-national-news","36":"tag-new-brunswick","37":"tag-newfoundland-and-labrador","38":"tag-northwest-territories","39":"tag-nova-scotia","40":"tag-nunavut","41":"tag-ontario","42":"tag-pei","43":"tag-photos","44":"tag-political-news","45":"tag-political-opinion","46":"tag-politics","47":"tag-politics-news","48":"tag-quebec","49":"tag-sports-news","50":"tag-technology","51":"tag-travel","52":"tag-trudeau","53":"tag-united-states","54":"tag-unitedstates","55":"tag-us","56":"tag-us-news","57":"tag-world-news","58":"tag-yukon"},"share_on_mastodon":{"url":"","error":"Validation failed: Text character limit of 500 exceeded"},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/548193","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=548193"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/548193\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/548194"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=548193"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=548193"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=548193"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}