India, Japan deepen energy partnership with strategic oil reserves, maritime cooperation during Takaichi visit

India and Japan on Thursday agreed to strengthen cooperation on strategic crude oil stockpiling, petroleum reserve systems and maritime energy transport, as the two countries sought to bolster energy resilience against an increasingly uncertain global geopolitical environment.

The commitment was outlined in a joint statement on Energy Resilience issued by India's Ministry of Petroleum and Natural Gas and Japan's Ministry of Economy, Trade and Industry (METI) during Japanese Prime Minister Sanae Takaichi's three-day official visit to India.

Recognising their roles as two of Asia's largest energy-consuming economies, both countries pledged to work together to enhance energy security through closer collaboration on strategic petroleum reserves and emergency response mechanisms.

The joint statement said India and Japan would exchange expertise on crude oil and petroleum product stockpiling, reserve management, coordination with oil-producing nations and market stabilisation measures during supply disruptions.

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The two sides also agreed to strengthen cooperation among energy-consuming countries by improving market information-sharing, exploring stable energy supplies from third countries and encouraging upstream investments in the energy sector.

”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,” the joint statement said.

They also agreed to strengthen the voice of energy-consuming countries, including cooperation on market information-sharing, efforts for stabilisation, and exploring engagements for energy supplies from third countries as well as upstream investments.

On energy transport, both countries underlined the importance of resilient maritime logistics for oil and gas and agreed to explore collaborative opportunities, including joint investments across the maritime energy transport value chain.

”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,” the statement added.

Foreign Secretary Vikram Misri, briefing on the outcomes of the visit, said energy resilience was a key pillar of discussions between the two leaders.

”We have also issued a joint statement on energy resilience, affirming that as responsible powers and major energy-consuming countries, we will work together to jointly strengthen our respective energy resilience,” Misri said.

He added that the cooperation also includes strengthening strategic petroleum stockpiles, sharing best practices, and enhancing coordination in energy security frameworks.

”We’ve agreed to cooperate on strategic stockpiling and reserve mechanisms for crude oil and petroleum products, as well as exploring joint investments in maritime energy transport value chains,” the Foreign Secretary stated.

The two Prime Ministers also reiterated the importance of ensuring uninterrupted global energy flows and maritime trade routes, including freedom of navigation through key sea lanes, while opposing restrictions that could disrupt commercial shipping.

The joint statement further noted that India and Japan would enhance cooperation through institutional mechanisms involving Indian oil companies, Indian Strategic Petroleum Reserves Limited (ISPRL), Japan’s Japan Organisation for Metals and Energy Security (JOGMEC) and Japan Bank for International Cooperation (JBIC).

The leaders also welcomed broader energy cooperation initiatives, including clean energy projects such as green ammonia, hydrogen, solar and nuclear energy, and reaffirmed support for ongoing flagship projects in the sector.

The visit also saw the announcement of new initiatives in clean energy, including the India-Japan Cooperative Biogas for Growth Initiative, aimed at establishing 1,000 biogas plants across India using rural biomass resources.

With inputs from agencies