·
India
and Japan agreed to strengthen energy
resilience amid global geopolitical uncertainties.
·
Recognized
their role as major energy-consuming countries in Asia in ensuring secure and
stable energy supplies.
·
Supported
regional initiatives to improve energy resilience, including:
o India's efforts to enhance energy security
in South Asia.
o Japan's Partnership On Wide Energy and
Resources Resilience (POWERR Asia).
·
Share
knowledge and best practices on:
o National crude oil and petroleum
stockpiling systems.
o Industry stockpiles and reserve
mechanisms.
o Coordination with oil-producing countries.
o Emergency response and market
stabilization.
·
Cooperate
to improve:
o Energy availability and affordability.
o Supply assurance and resilience.
o Mechanisms to reduce market volatility.
·
Enhance:
o Information sharing on energy markets.
o Joint efforts for market stabilization.
o Energy sourcing from third countries.
o Investments in upstream oil and gas
projects abroad.
·
Strengthen
resilient and efficient maritime transport of oil and gas.
·
Explore
joint investments across the maritime energy transport value chain.
·
Promote
cooperation among key institutions, including:
o India: Indian National Oil Companies, Indian
Strategic Petroleum Reserves Limited (ISPRL), and other stakeholders.
o Japan: Japan Organization for Metals and Energy
Security (JOGMEC), Japan Bank for International Cooperation (JBIC), and other
stakeholders.
·
Expand
technical and financial cooperation in the energy sector.
·
Use
the India–Japan Joint
Working Group on Petroleum and Natural Gas under the India–Japan Energy Dialogue
as the main platform.
·
Regularly
exchange knowledge, review progress, and identify new opportunities for
cooperation.
India and Japan have
agreed to deepen cooperation on strategic
petroleum reserves, energy security, maritime energy transport, institutional
partnerships, and global energy market stability to build a
more resilient, secure,
and diversified energy ecosystem in the face of geopolitical
and supply-chain challenges.
On July 2, 2026, H.E. Narendra MODI,
Prime Minister of the Republic of India, and H.E. TAKAICHI Sanae, Prime
Minister of Japan, met in New Delhi, India, and expressed their shared
intention to work together as responsible powers and major energy-consuming
countries in Asia to jointly strengthen energy resilience in light of the
current geopolitical situation.
Both sides highlighted the importance
of regional initiatives to strengthen energy resilience, such as India’s
support for energy security in South Asia and Japan’s Partnership On Wide Energy and Resources Resilience (POWERR Asia). Based
on the leaders’ discussions, the Ministry of Petroleum and Natural Gas of the
Republic of India and the Ministry of Economy, Trade and Industry of Japan will
cooperate on the following concrete initiatives:
1. COOPERATION IN THE STRATEGIC
STOCKPILING ECOSYSTEM
The two sides reaffirmed the
importance of sharing their respective knowledge and experience, and, where
appropriate, promoting concrete cooperation related to stockpiling systems and
reserve mechanisms for crude oil and petroleum products. Cooperation will focus
on the following themes, among others:
§ Mechanisms related to national
stockpiling systems and reserves, including industry stockpiles
§ Coordination regarding arrangements
with producing countries
§ Emergency response and market
stabilization
2. STRENGTHENING VOICE OF
ENERGY-CONSUMING COUNTRIES
The two sides reaffirmed the
importance of cooperation to address shared challenges of energy availability
and affordability, through supply assurance, enhancing resilience and creating
mechanisms to mitigate volatility, thereby strengthening the voice of oil and
gas-consuming countries. Cooperation will focus on the following themes,
including:
•
Cooperation on information-sharing on market trends and joint efforts
for market stabilization
•
Exploring engagements for energy supplies from third countries
•
Exploring commercial engagements for investments in the upstream sector
in third countries.
3. COOPERATION IN ENERGY TRANSPORT
The two sides reaffirmed the
importance of resilient, self-reliant, and efficient maritime transport of oil
and gas as a critical pillar of energy security for both countries. Also, the
two sides concurred in exploring collaborative opportunities, including joint
investments, across the maritime energy transport value chain.
4. INSTITUTIONAL COOPERATION
The two sides confirmed their
intention to promote institutional collaboration among relevant stakeholders,
including those listed below, in order to deepen comprehensive cooperation in
the energy sector, including technical and financial cooperation:
•
Indian institutions: Indian National Oil Companies, Indian Strategic
Petroleum Reserves Limited (ISPRL); and other relevant stakeholders
•
Japanese institutions: Japan Organization for Metals and Energy Security
(JOGMEC); Japan Bank for International Cooperation (JBIC); and other relevant
stakeholders
5. PLATFORM FOR DIALOGUE
With the aim of advancing cooperation
in the priority areas identified in this statement, the two sides decided to
have discussions under the India-Japan Joint Working Group on Petroleum and
Natural Gas under the aegis of the India-Japan Energy Dialogue. Through this
platform, the two sides will share up-to-date knowledge and experience and
explore mutually beneficial opportunities for cooperation.