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Modi Secures Energy Deals and $5 Billion UAE Investments

Modi Secures Energy Deals and $5 Billion UAE Investments

PM Narendra Modi visited the United Arab Emirates. He held extensive talks with UAE President His Highness Sheikh Mohammed bin Zayed Al Nahyan in Abu Dhabi. This meeting resulted in a new defense partnership framework, a $5 billion investment package, and several energy agreements. These were the most significant outcomes of the first stop on his five country diplomatic tour.

Modi Secures Energy Deals

PM Modi was greeted at the airport by President Sheikh Mohammed bin Zayed Al Nahyan and received a ceremonial welcome. The two leaders then engaged in detailed discussions about the India-UAE Comprehensive Strategic Partnership.

From the beginning, the visit had a clear strategic focus. PM Modi strongly condemned the recent attacks on the UAE. He expressed India’s solidarity with the UAE’s leadership and people. He also stated India’s position on ensuring safe passage and uninterrupted navigation through the Strait of Hormuz, which he described as vital for regional peace, stability, and global energy and food security.

Strategic Collaboration between Abu Dhabi and India

Energy was a major topic of discussion. The two sides reached a Strategic Collaboration Agreement between Indian Strategic Petroleum Reserves Limited and the Abu Dhabi National Oil Company (ADNOC). Under this agreement, the UAE will increase its participation in India’s Strategic Petroleum Reserves to 30 million barrels.

The two countries also agreed to collaborate on establishing strategic gas reserves in India. Additionally, a separate arrangement between Indian Oil Corporation (IOCL) and ADNOC for long-term LPG supplies was finalized. Both leaders recognized the UAE’s important and lasting role in India’s energy security, including supplies of crude oil, LNG, and LPG.

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