The Minister of State for Petroleum and Natural Gas Dharmendra Pradhan, who is on visit to Canada, invited leading financial institutions to invest in energy infrastructure in India.

During the visit, Pradhan addressed Business Leadership forum separately in Calgary and Vancouver, attended by prominent CEOs in the oil and gas, electricity and coal sector of Canada. He also held one to one meetings with select CEOs of various companies working in the Energy sector and energy project financing in Calgary.

During various meetings, Pradhan offered to jointly underwrite large-scale energy projects such as LNG and refinery and petrochemical plants and highlighted availability of World standard cost effective and quality EPC companies in India with highly talented manpower who can contribute to the Canadian hydrocarbon sector.

He invited Canada’s leading financial institutions to invest in energy infrastructure in India and to cooperate to learn from each other’s experience in energy policy and regulation. He stressed that there is unlimited potential for natural partnership between the two countries.

The Minister highlighted the natural synergy between the India and Canada in the energy sector and referred to various ongoing projects in Canada by Indian companies. It may be noted that IOC is participating in an integrated LNG project in British Columbia, Canada with investment of USD 1 billion (which will go up to USD 4 billion). IOC and ONGC Videsh have already opened offices in Calgary, Canada.