Date: 2026-07-02Category: Press ReleaseState: Union GovernmentCountry: India
Joint Statement between Ministry of Petroleum and Natural Gas of the Republic of India and the Ministry of Economy, Trade, and Industry of Japan on Energy Resilience
**Executive Summary**
On July 2, 2026, the Prime Ministers of India and Japan met in New Delhi to establish a joint framework for strengthening energy resilience in Asia. The cooperation focuses on strategic stockpiling, maritime transport, and stabilizing energy markets amidst geopolitical shifts. Key action items include leveraging the India-Japan Joint Working Group to implement technical and financial collaborations across the energy value chain.
**Key Points / Main Content**
* **Strategic Stockpiling Ecosystem**
* Share knowledge and experience regarding national and industry stockpiling systems for crude oil and petroleum products.
* Coordinate arrangements with energy-producing countries.
* Develop joint mechanisms for emergency response and market stabilization.
* **Strengthening the Voice of Energy-Consuming Countries**
* Improve energy availability and affordability through supply assurance and volatility mitigation.
* Collaborate on information-sharing regarding market trends.
* Explore joint commercial engagements and investments in the upstream sector within third countries.
* **Cooperation in Energy Transport**
* Enhance the efficiency and self-reliance of maritime transport for oil and gas.
* Identify and pursue joint investment opportunities across the maritime energy transport value chain.
* **Institutional and Technical Collaboration**
* Deepen technical and financial cooperation between key Indian and Japanese institutions.
* Utilize the India-Japan Joint Working Group on Petroleum and Natural Gas, under the India-Japan Energy Dialogue, as the primary platform for knowledge exchange and project exploration.
**Impact Analysis**
**Indian National Oil Companies and Indian Strategic Petroleum Reserves Limited (ISPRL)**
**Impact**
These entities will gain access to Japanese expertise in reserve mechanisms and benefit from coordinated efforts in market stabilization and third-country investments.
**Action Required**
Engage in institutional collaboration and knowledge-sharing initiatives as directed by the India-Japan Joint Working Group.
**Japanese Institutions (JOGMEC and JBIC)**
**Impact**
These organizations are identified as primary partners for providing technical and financial cooperation to support the energy resilience framework.
**Action Required**
Deepen cooperation with Indian counterparts to explore and fund joint ventures in stockpiling, transport, and upstream sectors.
**Ministry of Petroleum and Natural Gas (India) and Ministry of Economy, Trade and Industry (Japan)**
**Impact**
Both ministries are tasked with overseeing the implementation of the joint statement's concrete initiatives to ensure regional energy security.
**Action Required**
Convene discussions under the India-Japan Joint Working Group to advance priority areas and identify mutually beneficial cooperation opportunities.
Key Entities Referenced
India-Japan Energy Dialogue: The overarching bilateral framework under which energy cooperation and dialogues between India and Japan are conducted.
Partnership On Wide Energy and Resources Resilience (POWERR Asia): A Japanese regional initiative aimed at strengthening energy and resource security and resilience across Asia.
Indian Strategic Petroleum Reserves Limited (ISPRL): The key Indian institution responsible for managing strategic crude oil reserves and collaborating on stockpiling ecosystems.
Japan Organization for Metals and Energy Security (JOGMEC): The Japanese entity designated for technical and financial cooperation to ensure energy security and resource resilience.
India-Japan Joint Working Group on Petroleum and Natural Gas: A specialized body tasked with implementing the specific initiatives identified in the joint statement under the aegis of the Energy Dialogue.
Prime Minister's Office
Joint Statement between 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 9:53PM 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
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.
***
MJPS/SS/ST
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इस वज्ञ को इन भाषाओ ंम पढ़: Gujarati