India and Japan on Thursday agreed to deepen cooperation on energy resilience, unveiling a comprehensive roadmap to strengthen strategic petroleum reserves, secure energy supplies, enhance maritime transport and promote institutional collaboration amid evolving geopolitical challenges.
In a joint statement issued after talks between Prime Minister Narendra Modi and Japanese Prime Minister Sanae Takaichi, the Ministry of Petroleum and Natural Gas of India and Japan’s Ministry of Economy, Trade and Industry said both countries, as major energy-consuming nations in Asia, would work together to build a more resilient and reliable energy ecosystem.
The two sides agreed to cooperate on strategic stockpiling systems by sharing expertise on crude oil and petroleum product reserves, including industry stockpiles, coordination with producing countries, and emergency response mechanisms aimed at stabilising energy markets during supply disruptions.
India and Japan also pledged to strengthen the voice of energy-consuming countries by expanding cooperation on market intelligence, improving supply assurance, mitigating price volatility and exploring energy procurement from third countries. The two countries will also examine opportunities for commercial investments in upstream energy assets overseas.
Recognising the importance of secure maritime energy logistics, both sides agreed to explore collaboration across the oil and gas transportation value chain, including potential joint investments to make energy transport more resilient, self-reliant and efficient.
The statement further outlined plans to deepen institutional cooperation among key stakeholders. Indian entities, including National Oil Companies and Indian Strategic Petroleum Reserves Limited (ISPRL), will work closely with Japanese organisations such as the Japan Organization for Metals and Energy Security (JOGMEC) and the Japan Bank for International Cooperation (JBIC), alongside other relevant institutions, to promote technical and financial collaboration.
To ensure sustained engagement, both countries decided to advance discussions through the India-Japan Joint Working Group on Petroleum and Natural Gas under the India-Japan Energy Dialogue. The platform will facilitate regular exchanges of knowledge, monitor progress and identify new areas of mutually beneficial cooperation in the energy sector.
