During the official visit of Abu Dhabi Crown Prince Sheikh Khaled bin Mohamed bin Zayed Al Nahyan to New Delhi on September 9-10, India and the UAE signed several important agreements to enhance their Comprehensive Strategic Partnership. Among the most notable was a long-term liquefied natural gas (LNG) supply agreement between Abu Dhabi National Oil Company (ADNOC) and Indian Oil Corporation Limited (IOCL). This deal involves the supply of 1 million metric tonnes per annum (MMTPA) of LNG, marking the third such agreement in just over a year. Previous deals with IOCL and GAIL for 1.2 MMTPA and 0.5 MMTPA, respectively, are expected to strengthen India’s energy security through diversified LNG sources.
Nuclear Cooperation Agreement
Another significant pact was a Memorandum of Understanding (MoU) on nuclear cooperation between the Nuclear Power Corporation of India Limited (NPCIL) and the Emirates Nuclear Energy Corporation (ENEC). This agreement aims to boost cooperation in nuclear power plant operations, procurement of nuclear goods and services from India, and explore mutual investment opportunities.
Bilateral Talks
During the visit, Crown Prince Khaled met with Prime Minister Narendra Modi. They reviewed the progress of the India-UAE Comprehensive Economic Partnership Agreement (CEPA) and discussed new areas of collaboration, including critical minerals and advanced technologies. The leaders also highlighted the recent implementation of the Bilateral Investment Treaty (BIT), which has further strengthened economic ties.
Crude Storage and Production Concessions
A notable MoU was signed between ADNOC and India Strategic Petroleum Reserve Limited (ISPRL) to explore additional crude storage opportunities in India. ADNOC has been involved in crude storage at ISPRL’s Mangalore Cavern since 2018. The new MoU includes provisions for renewing this storage and management agreement.
Additionally, a production concession agreement for Abu Dhabi Onshore Block 1 was signed between Urja Bharat—a joint venture of IOCL and Bharat Petro Resources Ltd—and ADNOC. This marks the first such concession for an Indian company in the UAE and allows for the transportation of crude oil to India, further enhancing its energy security.
Meetings with Indian Officials
The Crown Prince, accompanied by a delegation of ministers and senior officials, also met President Droupadi Murmu at Rashtrapati Bhavan. They discussed the warm relations between the two countries, with President Murmu expressing gratitude to the UAE for hosting over 3.5 million Indians and noting the increasing cooperation in various sectors.
Future Engagements
The Crown Prince is set to visit Mumbai next, where he will participate in the India-UAE Business Forum. The forum will focus on future business cooperation and will feature the soft launch of the India-UAE Virtual Trade Corridor and the MAITRI interface, aimed at enhancing economic collaboration between the two nations.
