India and Japan have adopted a Joint Statement on Energy Resilience between the Ministry of Petroleum and Natural Gas of the Republic of India and the Ministry of Economy, Trade and Industry of Japan. The document was issued on the occasion of the meeting between Prime Minister Narendra Modi and Japanese Prime Minister Sanae Takaichi in New Delhi, reflecting the shared commitment of both nations, as major energy-consuming countries in Asia, to strengthen energy resilience amid the prevailing geopolitical situation.
The statement underscores the importance of regional initiatives for energy security, including India’s support for energy security in South Asia and Japan’s Partnership on Wide Energy and Resources Resilience (POWERR Asia). Building on the leaders’ discussions, the two ministries have agreed to pursue concrete cooperation in key areas to ensure stable, affordable and resilient energy supplies for their economies and the wider region.
Under the framework, both sides will cooperate in the strategic stockpiling ecosystem by sharing knowledge and experience on national stockpiling systems and reserves for crude oil and petroleum products, including industry stockpiles, coordination with producing countries, and mechanisms for emergency response and market stabilisation. They will also work to strengthen the collective voice of energy-consuming countries through information-sharing on market trends, joint efforts towards market stabilisation, exploration of energy supplies from third countries, and commercial engagements for upstream investments in third countries.
Cooperation in energy transport will focus on ensuring resilient, self-reliant and efficient maritime transport of oil and gas, with both sides agreeing to explore collaborative opportunities, including joint investments, across the maritime energy transport value chain. Institutional collaboration will be promoted among relevant stakeholders, such as Indian National Oil Companies and Indian Strategic Petroleum Reserves Limited (ISPRL) from the Indian side, and the Japan Organization for Metals and Energy Security (JOGMEC) along with the Japan Bank for International Cooperation (JBIC) from the Japanese side, to facilitate technical and financial cooperation in the energy sector.
To take these priorities forward, the two sides have decided to hold discussions under the India-Japan Joint Working Group on Petroleum and Natural Gas, functioning under the aegis of the India-Japan Energy Dialogue. This platform will serve as a mechanism to share up-to-date knowledge and experience while exploring mutually beneficial opportunities for cooperation. The adoption of the Joint Statement marks a significant step in deepening the energy partnership between India and Japan and enhancing supply chain resilience in the Indo-Pacific region.
