India, UAE sign agreements on long-term LNG supply, civil nuclear cooperation

India and The UAE signed agreements for long-term supply of liquefies natural gas (LNG) and civil nuclear cooperation as Prime Minister Narendra Modi welcomes Abu Dhabi’s Crown Prince Sheikh Khaled Bin Mohammed Bin Zayed Al Nahyan at the Hyderabad House in Delhi on Monday.

Both sides also signed agreements for the United Arab Emirates (UAE) to enhance its participation in India’s strategic petroleum reserves.

The transportation of crude oil from Abu Dhabi Onshore Block 1 to India by an Indian State-run company, and the establishment of food parks in Gujarat by Abu Dhabi Developmental Holding Company.

Both leaders were dwelling on the need to explore new areas of collaboration, especially nuclear energy, critical minerals, green hydrogen, artificial intelligence and cutting-edge technologies.

The 15-year agreement for LNG supply between Abu Dhabi National Oil Company (ADNOC) and Indian Oil Corporation Limited predicts the supply of one million metric tonnes per annum (MMTPA) from ADNOC’s lower-carbon Ruwais gas project.

This is the third contract India signed in a little more than a year to strengthen energy security. IOCL and GAIL signed long-term agreements for 1.2 MMTPA and 0.5 MMTPA, respectively, with ADNOC.