Washington DC [US]: India and the United States have reaffirmed their commitment to strengthening energy security and expanding energy trade following a meeting between Prime Minister Narendra Modi and former US President Donald Trump, according to a statement from the Ministry of External Affairs (MEA).
The two leaders emphasized the growing India-US collaboration in the energy sector, highlighting efforts to enhance energy security, increase trade in hydrocarbons, and expand cooperation in civil nuclear energy.
Boosting Energy Trade & Security
The US and India reiterated their commitment to increasing energy trade, ensuring stable global energy markets, and establishing the United States as a major supplier of crude oil, petroleum products, and liquefied natural gas (LNG) to India.
“Energy security is fundamental to economic growth, social well-being, and technological innovation in both countries,” the statement said. The leaders acknowledged India and the US as key players in shaping the global energy landscape and re-committed to the US-India Energy Security Partnership across oil, gas, and civil nuclear energy.
Expanding Hydrocarbon Production & Strategic Reserves
Recognizing the importance of stable energy prices, both sides underscored the need to enhance hydrocarbon production to ensure affordable and reliable energy access.
The leaders also highlighted the strategic petroleum reserves’ role in economic stability during crises. As part of this commitment, the US expressed strong support for India’s full membership in the International Energy Agency (IEA).
Civil Nuclear Energy Cooperation
In a major development, Modi and Trump reaffirmed their commitment to fully implement the US-India 123 Civil Nuclear Agreement by advancing plans to construct US-designed nuclear reactors in India.
As per the MEA statement, both nations welcomed India’s recent Budget announcement to amend the Atomic Energy Act and Civil Liability for Nuclear Damage Act (CLNDA), which would help establish bilateral arrangements to address civil liability issues. This move is expected to facilitate US-India industry collaboration in nuclear reactor production and deployment.
“This path forward will unlock plans to build large US-designed reactors and enable collaboration on developing, deploying, and scaling up nuclear power generation with advanced small modular reactors,” the statement added.
Strengthening Energy Infrastructure & Investment
Both sides emphasized the huge potential for investment in oil and gas infrastructure and pledged to encourage greater cooperation between energy companies from both nations. The focus will include trade diversification in hydrocarbons, covering natural gas, ethane, and petroleum products.
The leaders also committed to promoting joint investments in energy infrastructure projects, reinforcing long-term energy security for both countries.