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Home Middle East

UAE’s ADNOC Signs Long-Term LNG Supply Deal with India

September 9, 2024
UAE’s ADNOC Signs Long-Term LNG Supply Deal with India
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On Monday, the UAE and India signed a Memorandum of Understanding (MoU) regarding the maintenance and operation of the Barakah Nuclear Power Plant, which recently achieved full commercial operation, according to an announcement by Abu Dhabi.

In a brief statement, India’s Ministry of External Affairs confirmed that the Emirates Nuclear Energy Corporation (ENEC) and the Indian Nuclear Power Corporation (NPCIL) had signed the MoU during a visit by Abu Dhabi Crown Prince Sheikh Khaled bin Mohamed bin Zayed Al Nahyan to India.

The UAE’s state news agency (WAM) highlighted several strategic agreements that were part of the Comprehensive Economic Partnership Agreement (CEPA) between the two nations.

ENEC also signed a strategic partnership with NPCIL to facilitate knowledge-sharing and expertise in all aspects of nuclear energy development through the UAE’s advanced nuclear facilities.

In addition, Abu Dhabi National Oil Company (ADNOC) entered into a 15-year agreement with Indian Oil Corporation Limited to supply one million metric tons of liquefied natural gas (LNG) annually, primarily from its low-emission LNG project in Ruwais.

ADNOC also extended its current agreement with India’s Strategic Petroleum Reserves Limited to store and manage oil, further strengthening India’s energy security.

Moreover, Abu Dhabi’s ADQ, a leading investment company, signed an MoU with India’s Ministry of Food Processing Industries to establish a state-of-the-art food and agriculture industrial complex in Gujarat, utilizing advanced and innovative technologies in the food processing sector.

Tags: UAE
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