Prime Minister Narendra Modi’s visit to Abu Dhabi ended with multiple agreements covering defence cooperation, energy security and industrial infrastructure. India and the UAE agreed on a framework for a strategic defence partnership, signed an MoU on strategic petroleum reserves, and finalized LPG supply arrangements to bolster energy security. The UAE also announced $5 billion in investments in Indian infrastructure and financial institutions including RBL Bank and Samman Capital. Modi urged dialogue to manage West Asia tensions and stressed keeping the Strait of Hormuz open.
Prime Minister Narendra Modi’s UAE visit delivers two energy pacts aimed at strengthening India’s fuel safety net. India’s IOCL agreed with ADNOC for expanded, long-term LPG shipments, building on the UAE’s role as nearly 40% of total LPG supply. In parallel, ISPRL and ADNOC will expand underground strategic crude storage, extending their 2018 Mangaluru partnership. The deals come as Strait of Hormuz disruptions raise global oil pressure, and the UAE’s OPEC+ exit helps enable direct contracts.
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Prime Minister Narendra Modi’s upcoming visit to the UAE is expected to focus on energy security, with sources pointing to likely agreements on Liquefied Petroleum Gas and Strategic Petroleum Reserves. The cooperation comes as the UAE moves on from OPEC+, and officials say the talks will also strengthen trade and investment while addressing priorities for the Indian diaspora.
India’s finance ministry says it is closely monitoring global commodity price swings triggered by the Russia Ukraine war, especially pressures affecting crude oil costs. Minister of State for Finance Pankaj Chaudhury added the government supports moves to release from Strategic Petroleum Reserves, aiming to reduce volatility and help calm rising fuel prices in markets.
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