Japan and India Plan Joint Task Force on LNG Stockpiling

The Japanese and Indian governments are considering a plan to establish a joint task force for cooperation in stockpiling liquefied natural gas, sources said Sunday. The task force would focus on energy security and prepare for future risks of supply disruptions. India relies heavily on the Middle East for LNG supplies, while Japan obtains about 10 percent of its LNG from the region.

The two sides are expected to reach an agreement during a meeting between the Japanese prime minister and the Indian prime minister in New Delhi on Thursday, informed sources said. The establishment of the task force will be included in a joint statement after the bilateral summit.

The Japanese prime minister is scheduled to visit India for three days starting Wednesday. This marks the first trip to the South Asian nation since taking office last October and forms part of reciprocal visits between the two countries. Representatives of many Japanese companies and organizations are expected to accompany the prime minister.

They will participate in an economic forum where planned private-sector investments worth ¥10 trillion in India over 10 years are likely to be highlighted.

The two prime ministers are also seen agreeing to reinforce supply chains for important minerals and semiconductors. They are expected to promote cooperation over artificial intelligence and other new technologies. Cooperation from India, which forms the Quad framework with Japan, the United States and Australia, is viewed as important in countering China’s growing military and economic coercion.

Japan hopes to leverage the cooperation programs to maintain close ties with India, which also maintains relations with China and Russia.