OTTAWA – Canada’sNatural Resources MinisterJoe Oliver delivered remarksat PETROTECH 2014, the11th International Oil andGas Conference and Exhibition,in Greater Noida, India.Oliver took this opportunityto promote Canada asa secure and responsible supplierof energy, particularlyliquefied natural gas, to India’sgrowing market.Minister Oliver also metwith senior Indian governmentofficials, including BeniPrasad Verma, Minister ofSteel, as well as with industryexecutives, to discuss the importanceof enhancing tradeand investment ties betweenCanada and India. The Ministeralso highlighted thatwith our abundant naturalresources, Canada is well positionedto meet India’s growingdemand for energy.Quick Facts• Canada is the world’sfifth-largest producer of naturalgas, with marketable gasresources estimated to be upto 37 trillion cubic metres, or1,300 trillion cubic feet —some 200 years of productionat current rates.• Canada has the thirdlargestproven oil reserves inthe world, at 173 billion barrels.• According to the InternationalEnergy Agency,in 2035, fossil fuels will stillbe required to meet threequartersof global energy demand.• India is already theworld’s fourth-largest consumerof energy, and it is expectedto quadruple its electricitysupply within the next25 years.“With our abundance ofnatural resources, Canada iswell positioned to play a leadingrole in supplying the energyrequired to meet India’sgrowing demand. The Canada–India energy partnershipholds enormous potential,and we are determined toseize this economic opportunityfor the future benefit ofCanadians and Indians alike,”Oliver said.
