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Canada Pivots to India to Break U.S. Energy Dependency
(MENAFN) Canada is pursuing a dramatic shift in its energy export strategy, seeking to reduce overwhelming reliance on American markets by expanding shipments to India, the nation's Energy Minister revealed Tuesday.
Speaking at the India Energy Week conference in Goa, western India, Minister Tim Hodgson outlined an aggressive diversification plan aimed at breaking Canada's near-total dependence on a single customer.
"We need to diversify our supply. Canada used to provide 98 percent of its energy to one customer. We are committed to diversifying our supply. We see the opportunity to work with India as the fastest growing demand for energy in the world will be in India," Hodgson stated.
The announcement marks Canada's first federal ministerial appearance at India Energy Week and signals the revival of bilateral energy discussions after an eight-year freeze in Canada-India energy dialogue.
The four-day conference launched Tuesday in the coastal state of Goa and will run through Friday, drawing energy officials and industry leaders from approximately 125 nations and territories, according to event organizers.
India's surging energy consumption presents a strategic opportunity for Canada as it attempts to reshape export channels historically dominated by southbound flows to the United States.
Speaking at the India Energy Week conference in Goa, western India, Minister Tim Hodgson outlined an aggressive diversification plan aimed at breaking Canada's near-total dependence on a single customer.
"We need to diversify our supply. Canada used to provide 98 percent of its energy to one customer. We are committed to diversifying our supply. We see the opportunity to work with India as the fastest growing demand for energy in the world will be in India," Hodgson stated.
The announcement marks Canada's first federal ministerial appearance at India Energy Week and signals the revival of bilateral energy discussions after an eight-year freeze in Canada-India energy dialogue.
The four-day conference launched Tuesday in the coastal state of Goa and will run through Friday, drawing energy officials and industry leaders from approximately 125 nations and territories, according to event organizers.
India's surging energy consumption presents a strategic opportunity for Canada as it attempts to reshape export channels historically dominated by southbound flows to the United States.
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