India and Japan have signed a comprehensive joint statement on energy resilience cooperation between their respective ministries of petroleum and economy. The agreement, signed on July 2, 2026, in New Delhi, establishes five key areas of collaboration between the world's major energy-consuming countries in Asia. Both nations will cooperate in developing strategic stockpiling ecosystems for crude oil and petroleum products, including knowledge sharing on national stockpiling systems, industry stockpiles, coordination with producing countries, and emergency response mechanisms for market stabilization.
The partnership aims to strengthen the voice of energy-consuming countries through enhanced information sharing on market trends, joint efforts for market stabilization, and exploring engagements for energy supplies from third countries. The agreement also covers cooperation in energy transport, with both sides concurring to explore collaborative opportunities including joint investments across the maritime energy transport value chain to ensure resilient and efficient shipping of oil and gas.
Institutional cooperation will involve Japanese institutions including Japan Organization for Metals and Energy Security (JOGMEC) and Japan Bank for International Cooperation (JBIC) working with Indian National Oil Companies and Indian Strategic Petroleum Reserves Limited (ISPRL). The India-Japan Joint Working Group on Petroleum and Natural Gas under the India-Japan Energy Dialogue will serve as the platform for implementing these initiatives, facilitating ongoing knowledge exchange and exploration of mutually beneficial cooperation opportunities.