India, Japan to work together for energy security, climate change issues

India and Japan have agreed to further strengthen bilateral cooperation in energy development space as well as contribute to worldwide energy security and solutions to climate change issues.

Also, both countries agreed to initiate a discussion on electric vehicles (EVs) and work together in promoting well-functioning energy markets, according to a statement issued after the 9th India Japan Energy Dialogue here.

India's Power and New and Renewable Energy Minister R K Singh and Japan's Minister of Economy, Trade and Industry Hiroshige Seko today signed a joint statement at the conclusion of the dialogue.

Both Japan and India, as the third and the seventh largest economies respectively, recognised that having access to reliable, clean and economical energy is critical for their economic growth and in achieving this, both ministers agreed on further strengthening of bilateral energy cooperation for energy development of both countries, while also contributing to worldwide energy security, energy access and climate change issues, the statement said.

The two nations appreciated the relevance of the grid stability given the high penetration of variable renewable energy. Both countries agreed to initiate the discussion towards development of EVs by collaborating with "Policy dialogue on next generation/Zero emission vehicles".

India and Japan also reiterated the continued importance of coal-based electricity generation in the energy mix in both the countries and also agreed to promote the cooperation on environmental measures for coal-fired power plants.

Both countries further confirmed their commitment to work together in promoting well-functioning energy markets and affirmed to promote transparent and diversified liquefied natural gas (LNG) market through the relaxation of destination clause.