India and the United Arab Emirates (UAE) have signed critical agreements aimed at strengthening bilateral ties in energy and technology. The agreements, which include long-term LNG supply and civil nuclear cooperation, were finalized during discussions between Indian Prime Minister Narendra Modi and UAE Crown Prince Sheikh Khaled bin Mohamed bin Zayed Al Nahyan.
Long-Term LNG Supply Agreement
One of the major deals signed was a 15-year agreement for the supply of liquefied natural gas (LNG) between the Abu Dhabi National Oil Company (ADNOC) and Indian Oil Corporation Limited (IOCL). Under this agreement, ADNOC will supply one million metric tonnes of LNG per year, boosting India’s energy security. This is the third such deal between the two nations in just over a year.
Civil Nuclear Cooperation
India and the UAE also signed a memorandum of understanding (MoU) to enhance cooperation in nuclear energy. This agreement, between India’s Nuclear Power Corporation (NPCIL) and the Emirates Nuclear Energy Corporation (ENEC), focuses on the operation and maintenance of nuclear power plants, the sourcing of nuclear goods from India, and potential investment opportunities in nuclear energy development.
Strengthening Energy Security
Further agreements include UAE’s increased participation in India’s strategic petroleum reserves and a deal for an Indian State-run company to transport crude oil from Abu Dhabi’s Onshore Block 1 to India. These efforts are aimed at bolstering India’s energy reserves, ensuring long-term energy security.
Exploring New Areas of Collaboration
The two leaders also discussed expanding cooperation into emerging fields such as artificial intelligence (AI), critical minerals, green hydrogen, and cutting-edge technologies. The focus on these areas reflects a shared vision of future economic and technological partnerships.
Investment in Gujarat’s Food Park
In addition, Abu Dhabi Developmental Holding Company (ADQ) will be developing a food and agriculture park in Gujarat by 2025, marking a significant UAE investment in India’s agribusiness sector.
A Comprehensive Strategic Partnership
During Sheikh Khaled’s visit, discussions highlighted the progress of the Comprehensive Economic Partnership Agreement (CEPA) and the Bilateral Investment Treaty (BIT), which are expected to further deepen economic ties between India and the UAE.
Sheikh Khaled, who is on his first visit to India as Crown Prince, also met with President Droupadi Murmu, underscoring the strong historic ties between the two nations.