New Delhi: India has signed a $3 billion agreement to import liquefied natural gas (LNG) from the United Arab Emirates, reinforcing energy ties as leaders of the two countries discussed expanding cooperation in trade and defence.
The deal was inked during a short visit by UAE President Sheikh Mohammed bin Zayed Al Nahyan, who held talks with Prime Minister Narendra Modi in New Delhi.
Under the agreement, Abu Dhabi-based ADNOC Gas will supply 0.5 million metric tonnes of LNG annually to Hindustan Petroleum Corporation Ltd (HPCL) for a period of 10 years.
ADNOC Gas said the latest contract takes the total value of its LNG supply agreements with India to more than $20 billion, underscoring India’s growing role in the company’s global strategy.
The two sides also set an ambitious target to double bilateral trade to $200 billion over the next six years.
In addition, India and the UAE signed a letter of intent aimed at working towards a strategic defence partnership, according to Foreign Secretary Vikram Misri.
The UAE is currently India’s third-largest trading partner. Misri clarified that enhanced defence cooperation with the UAE does not imply India’s involvement in regional conflicts, stressing that such engagements are focused on bilateral interests and stability.
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