Australia and India will work together to strengthen cooperation on energy security and supply chain resilience, with Australian Prime Minister Anthony Albanese and Indian Prime Minister Shri Narendra Modi issuing a joint statement 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 both countries’ energy systems.
The statement also reaffirms Australia and India’s commitment to strengthening cooperation on maintaining stable, secure and reliable energy supply of fossil fuels including coal, diesel, and liquified natural gas.
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Albanese and Modi 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.
Prime Minister Anthony Albanese said, “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.
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“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.”
Australian Minister for Climate Change and Energy Chris Bowen said, “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.”
