India-Australia Joint Statement on Energy Security
India and Australia, as Comprehensive Strategic Partners, issued a joint statement addressing energy security concerns amid Middle East disruptions that have impacted energy, resources, and commodity supply chains and prices. Both nations reaffirmed their commitment to open markets and rules-based trade as fundamental principles supporting their prosperity and economic security.
The statement recognizes the central role of private sector partnerships and strategic investments in ensuring sustainable and reliable energy flows. Both countries are committed to advancing bilateral energy trade and investment cooperation through the Economic Cooperation and Trade Agreement (ECTA), the ongoing work toward a Comprehensive Economic Cooperation Agreement (CECA), and other relevant bilateral frameworks.
A significant development includes the finalization of administrative arrangements necessary to enable the export of Australian uranium to India for exclusively peaceful purposes under International Atomic Energy Agency (IAEA) safeguards, as provided for under the Australia-India Nuclear Cooperation Agreement of 2015.
The joint statement acknowledges Australia's role as an important supplier of liquefied natural gas to India and India's role as an important supplier of liquid fuels and other downstream products to Australia. Both countries committed to supporting the continued flow of energy products and enhancing energy trade across the value chain, including encouraging investment opportunities.
Both nations are committed to working together to strengthen energy supply chain resilience through deepening regional cooperation, accelerating the energy transition, promoting renewable energy uptake, and upholding open trade arrangements for energy and liquid fuels. They recognize that increasing electrification of their respective energy systems will be valuable for future energy security.
The statement extends the commitment to resilient energy trade to the broader region, acknowledging the specific energy resource security vulnerabilities of Pacific Island Countries and the importance of energy supply to their resilience and economic prosperity.
Against this backdrop, both countries reaffirmed their commitment to maintaining stable, secure, and reliable supplies of energy products including coal, diesel, other liquid fuels, and natural gas. They also reaffirmed their commitment to accelerating energy transition and strengthening cooperation on low carbon fuels, with Australia noting India's initiative of the Global Biofuels Alliance (GBA).
Finally, both countries called on regional partners to join in ensuring global energy resource supply chains remain open for the benefit of regional security and prosperity.