India, Japan launch CBG initiative, deepen energy partnership through POWERR Asia cooperation

The announcements were made in the joint statement issued following the 16th India-Japan Annual Summit between Prime Minister Narendra Modi and Japanese Prime Minister Sanae Takaichi.

The two leaders agreed to expand cooperation across the maritime energy transport value chain, including through joint investments. "The two Prime Ministers concurred on exploring collaborative opportunities, including joint investments, across the maritime energy transport value chain," the joint statement said.

They highlighted regional initiatives aimed at strengthening energy resilience, including "Japan's Partnership On Wide Energy and Resources Resilience (POWERR Asia), India's support to energy security in South Asia, and the Quad Initiative on Indo-Pacific Energy Security."

The two leaders also welcomed the adoption of the Joint Statement on Energy Resilience and agreed to strengthen cooperation on strategic petroleum reserves.

"They also concurred on strengthening cooperation on strategic petroleum reserves, including through exchange of best practices and technical collaboration on strategic stockpiling ecosystem," the statement said.

Prime Minister Takaichi also reaffirmed Japan's support for India's membership of the International Energy Agency (IEA).

In the clean energy sector, the two Prime Ministers launched the India-Japan Cooperative Biogas for Growth (CBG) Initiative, aimed at scaling up biogas production in line with India's target of establishing 1,000 biogas and organic fertiliser plants across the country.

"The two Prime Ministers concurred on taking forward their partnership in the clean energy sector and appreciated the launch of the India-Japan Cooperative Biogas for Growth Initiative (CBG Initiative) as a new project of India-Japan cooperation to scale up biogas production," the statement said.

The leaders also welcomed the signing of a Memorandum of Cooperation (MoC) between Japan's Ministry of Economy, Trade and Industry and India's Ministry of Cooperation and Department of Animal Husbandry and Dairying.

Recognising the growing role of emerging fuels, the two Prime Ministers said "hydrogen and ammonia" are important "not only for decarbonization but also for enhancing energy security."

They reaffirmed their commitment to promoting the clean ammonia project in Odisha with continued support from both governments and acknowledged the importance of advancing clean energy projects in areas including clean ammonia, green hydrogen, solar photovoltaic technologies and nuclear energy.

Prime Minister Takaichi is on an official visit to India from July 1 to 3 for the 16th India-Japan Annual Summit, during which the two sides reviewed the full spectrum of the India-Japan Special Strategic and Global Partnership and agreed to expand cooperation across strategic, economic, energy and regional priorities. (ANI)