**Executive Summary**
On July 2, 2026, the Indian Ministry of Petroleum and Natural Gas and the Japanese Ministry of Economy, Trade and Industry issued a joint statement to enhance energy resilience in Asia amidst geopolitical shifts. The agreement focuses on five key areas: strategic stockpiling, strengthening the influence of energy-consuming nations, energy transport, institutional collaboration, and a dedicated platform for dialogue. Moving forward, both nations will utilize the India-Japan Joint Working Group on Petroleum and Natural Gas to advance these initiatives and explore joint investment opportunities.
**Key Points / Main Content**
**Cooperation in the Strategic Stockpiling Ecosystem**
* Exchange of knowledge and experience regarding national and industry stockpiling systems and reserve mechanisms for crude oil and petroleum products.
* Coordination of arrangements with energy-producing countries.
* Development of strategies for emergency response and market stabilization.
**Strengthening the Voice of Energy-Consuming Countries**
* Collaboration to improve energy availability, affordability, and supply assurance.
* Information-sharing on market trends and joint efforts to mitigate market volatility.
* Exploration of energy supplies and commercial investments in the upstream sector within third countries.
**Cooperation in Energy Transport**
* Commitment to building resilient, self-reliant, and efficient maritime transport for oil and gas as a pillar of energy security.
* Exploration of collaborative opportunities and joint investments across the maritime energy transport value chain.
**Institutional and Dialogue Frameworks**
* Promotion of technical and financial cooperation between relevant institutions.
* Establishment of discussions under the India-Japan Joint Working Group on Petroleum and Natural Gas, operating under the aegis of the India-Japan Energy Dialogue.
* Utilization of this platform to share up-to-date knowledge and explore mutually beneficial opportunities.
**Impact Analysis**
**Indian and Japanese Ministries (Petroleum, Natural Gas, Economy, Trade and Industry)**
**Impact**
These bodies are now linked through a formal framework to strengthen regional energy resilience and influence market stabilization as major consumers.
**Action Required**
They must facilitate ongoing discussions through the India-Japan Joint Working Group and coordinate policy on supply assurance.
**Institutional Stakeholders (JOGMEC, JBIC, ISPRL, and Indian National Oil Companies)**
**Impact**
These organizations gain a platform for deepened technical and financial cooperation, specifically regarding strategic reserves and upstream investments.
**Action Required**
They need to engage in institutional collaboration to share experience in stockpiling and explore joint commercial engagements in third countries.
**Energy Transport and Maritime Sector**
**Impact**
The sector is identified as a critical pillar for security, opening pathways for joint investments in the maritime energy transport value chain.
**Action Required**
Relevant stakeholders must identify and evaluate collaborative opportunities for resilient and efficient maritime oil and gas transport.
Key Entities Referenced
India-Japan Energy Dialogue: The primary policy framework under which bilateral energy cooperation, including the Joint Working Group, is conducted.
Partnership on Wide Energy and Resources Resilience (POWERR Asia): A Japanese regional initiative highlighted as a key mechanism for strengthening energy security and resilience in Asia.
Indian Strategic Petroleum Reserves Limited (ISPRL): The Indian agency designated for technical and financial cooperation regarding the strategic stockpiling of crude oil and petroleum products.
Japan Organization for Metals and Energy Security (JOGMEC): The Japanese institution responsible for securing stable energy supplies and collaborating on strategic stockpiling and technical initiatives.
India-Japan Joint Working Group on Petroleum and Natural Gas: The implementation body tasked with advancing discussions and sharing knowledge on the specific cooperation areas identified in the joint statement.
Ministry of Petroleum & Natural Gas
JOINT STATEMENT BETWEEN
THE MINISTRY OF PETROLEUM AND NATURAL GAS OF THE
REPUBLIC OF INDIA AND THE MINISTRY OF ECONOMY,
TRADE AND INDUSTRY OF JAPAN ON ENERGY RESILIENCE
प्रव तथ: 02 JUL 2026 5:54PM by PIB Delhi
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
Japan’s Partnership on Wide Energy and Resources Resilience (POWERR Asia) and India’s support for
energy security in South 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 TRANSPORTThe 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:
Japanese institutions: Japan Organization for Metals and Energy Security (JOGMEC); Japan Bank
for International Cooperation (JBIC); and other relevant stakeholders
Indian institutions: Indian National Oil Companies, Indian Strategic Petroleum Reserves Limited
(ISPRL); 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.
*****
SJ
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