India Signs LPG and Strategic Oil Reserves Deal with UAE
The agreements include potential ADNOC storage of up to 30 million barrels in India and long-term LPG supplies, officials said.
- On Friday, Prime Minister Narendra Modi and UAE President Sheikh Mohamed bin Zayed Al Nahyan signed a strategic defence partnership framework and energy pacts in Abu Dhabi, establishing deeper defence industrial collaboration, cyber security, maritime security and information exchange.
- Days after Iranian missile strikes targeted UAE facilities, Modi's stopover addressed energy vulnerabilities as India—importing 90 percent of its oil through the contested Strait of Hormuz—had recently raised fuel prices 3 percent amid regional disruption.
- A Strategic Collaboration Agreement allows ADNOC to expand crude storage in India to 30 million barrels with potential Fujairah facilities, while UAE announced $5 billion in investments across Indian infrastructure, RBL Bank and Sammaan Capital given its role as largest LPG supplier at nearly 40 percent.
- Modi told President Sheikh Mohamed that India stands "shoulder to shoulder with the UAE," condemning the attacks as "unacceptable" while the Prime Minister's Office reaffirmed India's commitment to safe Strait of Hormuz transit and regional stability.
- The partnership builds on a January $3 billion LNG agreement and positions India strategically in West Asia as the UAE's recent OPEC exit is expected to boost production for energy-dependent importers like India.
37 Articles
37 Articles
Five-Nation Visit : PM Modi secures critical crude and LPG deals in high-stakes UAE stop
Abu Dhabi: As the world grappled with an energy crisis, geopolitical instability and fears of disruption to critical shipping routes in West Asia, Prime Minister Narendra Modi’s brief visit to the United Arab Emirates on May 15 delivered significant strategic and economic gains for India, with energy security emerging as the central pillar of the expanding partnership between the two countries. The visit to Abu Dhabi came at a time when uncertai…
India, UAE agree on framework for strategic defence partnership during Modi visit
India and the United Arab Emirates (UAE) agreed the framework for a strategic defence partnership on Friday during Prime Minister Narendra Modi’s visit to the Gulf nation, the Indian foreign ministry said, as they seek to deepen ties amid the Iran war. India and the UAE also signed pacts on strategic petroleum reserves and supply of liquefied petroleum gas, the ministry said in a statement. Under the strategic defence partnership, “the two side…
Channel News Asia
India deepens defence, energy ties with UAE during PM Modi visit
India and the United Arab Emirates agreed the framework for a strategic defence partnership on Friday (May 15), the Indian foreign ministry said, as they seek to deepen ties amid the Iran war.
Oil agreement includes increased Arnoc's crude oil storage capacity in India to up to 30 million barrels
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