New Delhi: India and Japan agreed to strengthen India Japan energy resilience through a new cooperation framework covering strategic petroleum reserves, energy transport, market stability and institutional collaboration following talks between Prime Minister Narendra Modi and Japanese Prime Minister Takaichi Sanae in New Delhi.
The joint statement said both countries, as major energy-consuming nations in Asia, will work together to improve energy security amid the current geopolitical situation. They also reaffirmed their commitment to build resilient and reliable energy supply chains.
India and Japan agreed to cooperate on strategic stockpiling systems by sharing expertise on crude oil and petroleum reserve mechanisms. They will also exchange knowledge on industry stockpiles, coordination with producing countries, emergency response systems and market stabilisation measures.
The two countries further decided to strengthen the collective voice of energy-consuming nations. They will share information on global energy markets and explore opportunities to secure energy supplies and upstream investments in third countries.
India Japan energy resilience to focus on transport and institutional ties
The cooperation framework also places emphasis on secure and efficient maritime transport of oil and gas. Both countries will explore joint investment opportunities across the maritime energy transport value chain to improve supply resilience.
In addition, India and Japan agreed to deepen institutional cooperation among key organisations. Indian stakeholders will include Indian National Oil Companies and Indian Strategic Petroleum Reserves Limited (ISPRL). Japanese participation will include the Japan Organization for Metals and Energy Security (JOGMEC), the Japan Bank for International Cooperation (JBIC) and other relevant agencies.
Furthermore, both governments decided to use the India-Japan Joint Working Group on Petroleum and Natural Gas, under the India-Japan Energy Dialogue, as the primary platform to review progress, exchange expertise and identify new areas of cooperation.
The joint statement also highlighted regional initiatives that support energy resilience, including India’s efforts to strengthen energy security in South Asia and Japan’s Partnership on Wide Energy and Resources Resilience (POWERR Asia). Both sides said the framework would promote long-term cooperation while improving energy availability, affordability and supply security.
