New Delhi [India], January 19 (ANI): India on Monday underscored the United Arab Emirates’ crucial contribution to its energy security and announced a long-term Liquefied Natural Gas (LNG) supply agreement as part of a series of outcomes following the Emirates’ President Sheikh Mohamed bin Zayed Al Nahyan’s visit to the country.
Briefing the media following the UAE President’s visit here, he said the agreement is a Sales and Purchase Agreement between Hindustan Petroleum Corporation Limited (HPCL) and Abu Dhabi National Oil Company Gas (ADNOC Gas).
Under the deal, HPCL will purchase 0.5 million metric tonnes per annum of liquefied natural gas from ADNOC Gas for 10 years, starting in 2028.
“This is a sale and purchase agreement between Hindustan Petroleum Corporation Limited and the Abu Dhabi National Oil Company (ADNOC) gas, and it’s a long-term agreement providing for the purchase of 0.5 million metric tonnes per annum of LNG by HPCL from ADNOC gas over a period of 10 years starting from 2028,” Misri said.
According to the Joint Statement, the two leaders expressed satisfaction with the strength of the India-UAE energy partnership and welcomed the signing of the 10-year LNG supply agreement, reaffirming the UAE’s role in supporting India’s long-term energy security.
“The two leaders expressed satisfaction with the strength of the bilateral energy partnership and underscored the UAE’s contribution to India’s energy security. They welcomed signing a 10-year LNG Supply Agreement between Hindustan Petroleum Corporation Limited (HPCL) and ADNOC Gas for the delivery of 0.5 million tonnes per year of liquefied natural gas, beginning in 2028,” the Joint Statement read.
The leaders also welcomed the enactment of the Sustainable Harnessing and Advancement of Nuclear Energy for Transforming India (SHANTI) Act, noting that it creates new opportunities for enhanced civil nuclear cooperation.
Both sides also agreed to explore partnerships in advanced nuclear technologies, including the development and deployment of large nuclear reactors and Small Modular Reactors (SMRs), as well as cooperation in advanced reactor systems, nuclear power plant operations and maintenance, and nuclear safety.
Regarding investment cooperation, Misri said India is pursuing the UAE’s participation in the development of the Special Investment Region in Dholera, Gujarat.
He said the proposed collaboration focuses on large-scale infrastructure development, including a full-fledged international airport, a pilot training school, a maintenance, repair and overhaul (MRO) facility, ports, a smart urban township, railway connectivity, and energy projects, to be jointly pursued by the UAE and the Government of Gujarat.
“We are looking at pursuing or attracting investment from the UAE in the development of the Special Investment Region in Dholera in Gujarat, which essentially focuses on infrastructure and included in this infrastructure, the idea would be to add a full-fledged international airport in Dholera,” the Foreign Secretary said.
“Annexe to that would be things like a pilot training school and an MRO facility, and also other infrastructure projects, ports and smart urban townships, railways, and energy projects that would come up. This will be pursued between the UAE and the government of Gujarat,” he added.
The Joint Statement noted that the Bilateral Investment Treaty signed in 2024 has further strengthened investment flows across multiple sectors, and the leaders welcomed discussions on the UAE’s partnership in Dholera and highlighted opportunities to build strategic infrastructure.
Prime Minister Narendra Modi also invited the UAE’s sovereign wealth funds to consider participating in the second National Investment and Infrastructure Fund (NIIF), scheduled for launch in 2026, following the success of the first fund.
Both sides also welcomed the establishment of DP World and First Abu Dhabi Bank operations in GIFT City, Gujarat, reinforcing its emergence as a leading international financial centre. The FAB GIFT City branch is expected to serve as a key link connecting Indian corporates and investors with markets across the Gulf Cooperation Council (GCC) and the wider Middle East and North Africa (MENA) region.
The outcomes come following the official visit of the President of the UAE, Sheikh Mohamed bin Zayed Al Nahyan, to India earlier today.
This was Sheikh Mohamed’s third official visit to India since assuming office as President of the United Arab Emirates, and his fifth visit to the country in the past decade, reflecting the frequency and intensity of high-level engagement between New Delhi and Abu Dhabi. (ANI)