NEW DELHI — Prime Minister Narendra Modi and South Korean President Lee Jae Myung have reaffirmed that the long-standing energy and resource partnership between their nations remains a central pillar of the India-ROK Special Strategic Partnership.
In a joint statement issued during President Lee’s state visit on April 20, 2026, the two leaders committed to securing energy supply chains and accelerating the transition to clean energy. The agreement underscores a shared vision for an open and prosperous Indo-Pacific region, backed by rules-based trade.
Key Pillars of the Energy Vision
The joint statement outlines a roadmap to fortify the energy security of both nations through the following strategic focus areas:
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Strategic Resource Exchange: India remains a key supplier of naphtha and petroleum feedstocks to South Korea, while the ROK continues to provide India with high-quality petroleum products and lubricant base oils. Both nations pledged to maintain open trade for these critical commodities.
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LNG Market Stability: Recognizing their positions as major LNG consumers, the two countries will explore closer collaboration to enhance market transparency and stability, ensuring that buyers’ perspectives are better represented globally.
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Shipbuilding & Logistics: The leaders emphasized that a robust maritime infrastructure is essential for energy security. They agreed to cooperate on shipyard modernization in India, technology partnerships, and human resource development in the shipbuilding sector.
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Supply Chain Resilience: In light of current global uncertainties, the leaders called on regional partners to ensure energy supply chains remain open and resilient to support economic stability.
“We are committed to working together to strengthen energy resource supply chain resilience, including through deepening regional cooperation and accelerating energy transition,” the joint statement noted.
This energy-focused mandate is part of a broader 2026-2030 Strategic Vision aimed at leveraging the technical prowess of South Korea and the growing energy demands of the Indian economy. By integrating maritime logistics with resource trade, PM Modi and President Lee aim to “future-proof” the growth of both nations.
