India and the UAE signed four major energy deals on Monday, bolstering strategic relations. Prime Minister Narendra Modi and Abu Dhabi Crown Prince Sheikh Khaled bin Mohamed bin Zayed Al Nahyan discussed nuclear energy, vital minerals, and green hydrogen.
One significant agreement is for Abu Dhabi National Oil Company (ADNOC) to supply Indian Oil Corporation Ltd. with one million metric tonnes of liquefied natural gas (LNG) every year.
ADNOC also agreed with India Strategic Petroleum Reserve Ltd (ISPRL) to investigate additional opportunities for crude oil storage in India.
Another agreement between Emirates Nuclear Energy Company (ENEC) and Nuclear Power Corporation of India Ltd (NPCIL) intends to improve collaboration in nuclear plant operations and the sourcing of nuclear materials from India. The agreement will also consider investment potential in the civil nuclear energy sector.
The fourth agreement concerns Urja Bharat’s production concession for Abu Dhabi’s Onshore Block One, which is the first time an Indian company will operate in the UAE. The Gujarat government and the Abu Dhabi Developmental Holding Company made a separate agreement to construct food parks in India.
