India, with more than one billion people, which now has a significant demand for oil and gas. This demand represents a terrific opportunity for Canada’s oil and gas industry. Canada has never been able to achieve top-twenty status as an oil and gas supplier to India, a horrendous situation given that India ranks #4 for oil and gas consumption. This new found interest for Canada’s oil and gas could not only significantly benefit the Canadian economy, but could also lead to increased competition for Canadian oil and gas exports.
India and Canada Economic Relations.
For the Canadian oil and gas industry, India represents a perfect opportunity, a large consumer that is not only willing to purchase these resources but also willing to aid with the construction of a pipeline. This is comparable to another large consumer, the USA, who is willing to buy Canadian oil and gas but not willing to help build and fund the Keystone Pipeline Project. Not only will India’s interest likely cause the USA to rethink their stance on the Keystone Pipeline Project, but also increase competition for Canadian oil and gas which could potentially lead to an overall increase in total profits to Canada based on the export of these resources.
Videos
Energy East Pipeline Project
Links
http://www.transcanada.com/energy-east-pipeline.html
http://globalnews.ca/news/878685/after-nuclear-agreement-india-sets-sights-on-canadian-oil-and-gas/
http://business.financialpost.com/2012/09/24/india-finally-makes-a-move-on-canadian-energy-assets/?__lsa=ed16-c57a