Japan and India agreed to cooperate on strategic crude oil and petroleum stockpiling, including sharing expertise on national reserves, industry inventories and emergency response mechanisms, according to a joint statement on Thursday.
The two countries also agreed to strengthen energy security by jointly monitoring markets, diversifying supply sources, pursuing upstream investments and supporting resilient maritime energy transport, including potential investments across the shipping value chain.
They also established a dedicated platform under the Japan-India Energy Dialogue's Joint Working Group on Petroleum and Natural Gas to advance technical and financial cooperation.