India has finalized a $3 billion deal to purchase liquefied natural gas (LNG) from the United Arab Emirates (UAE), positioning India as the UAE’s primary customer. This agreement was established during a brief two-hour meeting between UAE President Sheikh Mohammed bin Zayed Al Nahyan and Indian Prime Minister Narendra Modi, where both leaders discussed enhancing trade and defense relations.
Under the agreement, ADNOC Gas, a state-owned firm from Abu Dhabi, will supply 0.5 million metric tons of LNG annually to Hindustan Petroleum Corporation for a decade. This contract raises the total value of ADNOC’s agreements with India to over $20 billion, emphasizing India’s significance in ADNOC’s LNG strategy.
The UAE ranks as India’s third-largest trading partner, and during the visit, a letter of intent was signed to explore a strategic defense partnership. Despite India’s growing defense ties with the UAE, Foreign Secretary Vikram Misri clarified that this does not imply involvement in regional conflicts, particularly amidst ongoing tensions involving neighboring Pakistan and its agreements with Saudi Arabia and Turkey.
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