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UAE and India deepen energy ties

By Pramod Kumar
Wam
Abu Dhabi Crown Prince Sheikh Khaled bin Mohamed bin Zayed Al Nahyan and Indian Prime Minister Narendra Modi meet in New Delhi on September 9

The UAE has signed long-term liquefied natural gas (LNG) and strategic petroleum reserve development agreements with India, supporting New Delhi’s energy security initiatives.

The agreements were signed during the two-day visit of Abu Dhabi Crown Prince Sheikh Khaled bin Mohamed bin Zayed Al Nahyan to India.
  
Under the UAE-India comprehensive economic partnership agreement (Cepa), Abu Dhabi National Oil Company (Adnoc) and Indian Oil Corporation (IOC) signed a 15-year deal to supply 1 million metric tonnes per annum (mmtpa).

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Previously, Indian state-backed companies IOC and Gail had secured long-term agreements with Adnoc for 1.2 mmtpa and 0.5 mmtpa, respectively.

In addition, a production concession agreement for Abu Dhabi’s onshore Block 1 was signed between Adnoc and Urja Bharat, a joint venture between IOC and Bharat Petro Resources Limited. This is the first contract for any Indian company operating in the UAE.

Adnoc and India Strategic Petroleum Reserve Limited also renewed their storage and management agreement, exploring opportunities to expand crude storage facilities in India.

Additionally, the Emirates Nuclear Energy Corporation and Nuclear Power Corporation of India Limited committed to enhancing cooperation on nuclear power plant operations, sourcing nuclear goods and services, and exploring mutual investment and capacity building.

On another front, ADQ, an Abu Dhabi sovereign fund, signed an agreement to develop a food park in the Indian state of Gujarat, with construction expected to begin in the second quarter of 2025.

The UAE remains India’s top trading partner within the Gulf region.

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