India and Japan are set to sign an agreement to enhance LNG supply security and strengthen economic ties during PM Modi and PM Takaichi's summit in India. Discussions will cover critical minerals, AI, semiconductors, and regional geopolitics, with Japan planning significant investments.
China's oil and gas infrastructure is expanding with the "national grid" approach, enhancing supply security. Key projects like the Sichuan-to-East Gas Pipeline Phase II are under construction, alongside nearly 40 other pipeline projects totaling over 9,000 km. This network is also being upgraded to transport new energy sources like hydrogen and ammonia, with over 80 billion cubic meters of natural gas transported in the first four months of the year.
Europe faces a critical data gap in tracking fuel reserves as the Iran war threatens supplies through the Strait of Hormuz. The conflict costs the EU nearly €500 million daily in higher energy costs, but officials admit they have limited visibility into how much fuel the continent actually holds. EU authorities are planning a Fuel Observatory to improve monitoring, but data gaps especially for refined products like diesel and jet fuel remain profound. Gas stocks were already low (under 30% capacity) before the attack, and the IEA released 400 million barrels globally in response.
