New Delhi, Sep 9 (UNI) Abu Dhabi state oil giant ADNOC on Monday inked a 15-year agreement with Indian Oil Corporation Ltd to supply one million tonnes a year of liquefied natural gas (LNG) to India, following talks between PM Narendra Modi and visiting Abu Dhabi Crown Prince Sheikh Khaled bin Mohamed bin Zayed Al Nahyan here.
The LNG will be primarily sourced from ADNOC’s lower-carbon Ruwais LNG project.
The MoU was among five inked between the two sides today at Hyderabad House after talks between PM Modi and the Abu Dhabi Crown Prince.
ADNOC also signed a strategic framework agreement with Indian Strategic Petroleum Reserve Limited to extend its existing oil storage agreement and support India’s energy security.
A Production Concession Agreement was inked for Abu Dhabi Onshore Block between Urja Bharat and ADNOC.
Another agreement was signed between ADQ, an Abu Dhabi-based investment and holding company, and the Government of Gujarat to develop a major food and agriculture park featuring state-of-the-art technologies in India.
An MoU was inked in the field of Barakah Nuclear Power Plant Operations and Maintenance between Emirates Nuclear Energy Company (ENEC) and Nuclear Power Corporation of India (NPCIL) .
Crown Prince Sheikh Khaled, who is also chairman of the Abu Dhabi Executive Council, arrived in India on Sunday, accompanied by a high-level delegation, including ministers, senior officials, business leaders and prominent economic partners from the UAE.
The MEA spokesperson said on X:
“India-UAE ties taking greater strides!
“PM @narendramodi met with HH Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi today.
“The two leaders discussed the multifaceted India-UAE relations and avenues to broaden the comprehensive strategic partnership to new and emerging areas.”
India and the UAE inked the Comprehensive Economic Partnership Agreement in February 2022 to boost trade ties, which helped non-oil trade between the countries increase by 5.8 per cent to $50.5 billion in the first 12 months after it took effect in May 2022. The countries hope the agreement will help them boost trade to $100 billion by 2030.
In January, UAE President Sheikh Mohamed Bin Zayed Al Nahyan visited India and met PM Modi during the Vibrant Gujarat business summit.
PM Modi visited the UAE in February and inaugurated the landmark BAPS Hindu Mandir in Abu Dhabi. The two countries also signed a pact to expand investment co-operation in digital infrastructure.
Today’s agreements and partnerships encompass a range of priority areas of mutual interest in both the public and private sectors, ensuring the continued achievement of comprehensive economic cooperation aspirations between the two friendly nations, WAM news agency said.
PM Modi hosted a reception for Crown Prince Sheikh Khaled and his accompanying delegation at Hyderabad House, following which the two sides held talks to discuss the strategic relations shared by the two countries and explore ways to serve their mutual interests.
During the meeting, they reviewed bilateral relations within the framework of the strategic partnership between the two countries and discussed ways to further advance these alliances, building on the ongoing progress across various fields of cooperation for the benefit of both nations and peoples.
Sheikh Khaled conveyed the greetings of UAE President Sheikh Mohamed bin Zayed Al Nahyan, along with his wishes for the Prime Minister’s good health and well-being and for further progress and prosperity for India and its people.
PM Modi, in turn, welcomed Sheikh Khaled’s visit to India and expressed his hopes for its success. He also asked the Crown Prince to convey his greetings to the UAE President and his wishes for continued growth and development for the UAE and its people.
Modi also praised the UAE leadership for its ongoing commitment to advancing relations between the two countries across various fields.
The meeting also featured discussions on the UAE and India’s historical bonds of friendship and cooperation across all key sectors, as well as the two countries’ perspectives on several topics of mutual interest.
