Australia and India are working together to strengthen cooperation on energy security and supply chain resilience.
Prime Minister Anthony Albanese and Prime Minister Shri Narendra Modi of the Republic of India welcomed the Joint Statement on Energy Security today in Melbourne.
The Joint Statement recognises the importance of accelerating the energy transition to supply chain resilience, including promoting the uptake of renewable energy resources and the electrification of our energy systems.
The Statement also reaffirms Australia and India’s commitment to strengthening cooperation on maintaining stable, secure and reliable energy supply – including coal, diesel, other liquid fuels and natural gas.
India is Australia’s 4th largest source of refined petroleum and Australia is a longstanding supplier of coal and liquified natural gas to India.
During their meeting, the Prime Ministers reaffirmed the importance of expediting efforts to address climate change and welcomed progress under the India–Australia Renewable Energy Partnership, including the opening of the Rooftop Solar Training Academy in Gujarat.
The Leaders also welcomed the signing of the Administrative Arrangement to enable uranium exports to India for peaceful purposes under the 2015 Australia–India Nuclear Cooperation Agreement.
The arrangement facilitates Australian uranium exports to India to help increase the share of non-fossil fuel power capacity, providing an additional market for the Australian resources sector.
The Prime Ministers confirmed their ongoing cooperation on critical minerals, including a refreshed Memorandum of Understanding (MoU) between Geoscience Australia and Geological Survey of India. The MOU provides a framework for science exchanges to support resource mapping and mineral exploration.
The Leaders acknowledged the Australian Government announcement to re-award Perdaman Major Project Status for its Project Ceres, helping facilitate the development of Australia’s largest urea plant in Karratha, WA. This builds on almost $750 million in support provided through loans from Export Finance Australia and the Northern Australia Infrastructure Facility.
Quotes attributable to Prime Minister Anthony Albanese
“Like India, Australia is taking steps to address the fuel crisis and secure energy supply chains that are resilient and sustainable.
“India is an important and reliable energy partner for Australia, and we look forward to continuing to enjoy a mutually beneficial energy trading relationship.
“Australia’s natural resources are vital for other countries’ energy security and stability, and we look forward to becoming a reliable, trusted supplier of uranium to India.”
Quotes attributable to Minister for Climate Change and Energy Chris Bowen
“As we work to strengthen the energy supply chains of today, Australia and India are working together to accelerate uptake of the energy sources of tomorrow – because renewables and electrification are critical to strengthening our energy security into the future.
“Both our nations understand the importance of practical action on climate, and the significant economic opportunity the energy transition presents – exemplified by the opening of the Rooftop Solar Academy, sharing Australia’s technical solar expertise with India’s growing installer workforce.
“Amid global instability, today’s statement deepens our connection as stable energy partners, creating a more secure energy future for both nations.”
Quotes attributable to Minister for Resources Madeleine King
“Australia and India are natural partners for resources and energy.
“The new MOU between our world-class geological organisations, Geoscience Australia and the Geological Survey of India, will help uncover potential new deposits of critical minerals and other resources that will support our growing economic partnership.
“The Perdaman Project is a great example of how our two nations can work together to help develop a new global supply chain for urea fertiliser, which will improve food security and economic security for our two nations.”