UAE becomes India’s second-largest LNG supplier after new long-term deal on UAE President's visit
The deal was made on the visit of President of the UAE, Sheikh Mohamed bin Zayed Al Nahyan who was also personally received at the airport by Prime Minister Narendra Modi.
INDIA and the United Arab Emirates (UAE) have made a long-term deal to supply 0.5 million metric tons of Liquefied Natural Gas (LNG) per year to New Delhi.
With this deal, the Middle Eastern country has also become India's second-largest LNG supplier after Qatar. The deal was made on the visit of the President of the UAE, Sheikh Mohamed bin Zayed Al Nahyan who was also personally received at the airport by Prime Minister Narendra Modi.
The two then travelled to the prime minister's residence, where they held talks in the restricted as well as delegation-level formats.
Briefing the media at a press conference on the visit, Foreign Secretary Vikram Misri said, “The President of the UAE has just concluded an official visit to New Delhi. This has been a short but extremely substantive visit. He was received at the airport personally by PM Narendra Modi, which is a special gesture that reflects the extremely warm and close relationship that the two leaders share.”
“The UAE has always been a premier energy partner for India, and therefore, building on this comprehensive energy partnership, a long-term agreement for the supply of 0.5 million metric tons of LNG per annum was concluded during the visit. The UAE is now the second-largest supplier of LNG to India,” Vikram Misri said.
“In addition, an MOU on food safety and technical requirements was also signed, which will provide for sanitary and quality parameters to facilitate trade, exchange, promotion of cooperation in the food sector, and encourage food products and other agricultural product exports from India to the UAE. It will benefit the farmers of India and contribute to food security in the UAE. The discussions between the two leaders focused on several new and emerging areas of cooperation as well. In fact, to capitalise on the new opportunities for civil nuclear cooperation in the light of the passage of the Shanti Act in India for sustainable harnessing and advancement of nuclear energy for transforming India,” the foreign secretary said.
India and the UAE also set an annual trade target of $200 billion by 2032 and agreed to seal a strategic defence pact. The volume of two-way trade reached USD 84 billion in 2023–24.
