PM Carney Says Canada Poised to Capitalize on Global Oil Crisis as India’s Energy Demand Surges

New Delhi, March 11 – Canadian Prime Minister Mark Carney on Wednesday said that with India’s energy demand growing faster than anywhere else globally, Canada is well positioned to capitalize on the opportunity and establish itself as an energy superpower.

Carney Highlights India’s Energy Surge

Sharing his remarks on X (formerly Twitter) along with a video clip from his meeting with Prime Minister Narendra Modi, Carney said:
“India’s energy demand is increasing faster than anywhere else in the world. As an energy superpower, Canada is well-positioned to seize this opportunity.”

Global Energy Crisis Context

The comments come amid a global energy crisis triggered by the US-Israel strikes on Iran, which have disrupted oil and gas flows in the Strait of Hormuz  a critical shipping route that handles nearly 20% of the world’s petroleum and natural gas.

India’s Energy Supply Amid Conflict

Union Minister Hardeep Singh Puri said India’s energy imports are continuing through diverse sources and routes, despite one-third of natural gas imports being affected by the ongoing West Asia tensions. Oil and gas prices have surged globally, intensifying the pressure on energy-importing nations.

Strategic Implications

With India’s energy demand rising fastest worldwide, Carney’s remarks underline Canada’s ambition to strengthen energy trade ties with India while leveraging the evolving global market dynamics.