ADNOC to supply 1 MMTPA LNG to India on long-term contract
The Crown Prince of Abu Dhabi, Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, and Prime Minister Narendra Modi have expressed satisfaction over the substantial progress achieved in recent years in the India-UAE Comprehensive Strategic Partnership and discussed opportunities to further widen and deepen the partnership in all areas of bilateral cooperation fieo .
They acknowledged that the success of the Comprehensive Economic Partnership Agreement (CEPA) and the recent entry into force of the Bilateral Investment Treaty (BIT) will provide further impetus to the strong economic and commercial partnership between the two countries sbi .
They also underscored the need to explore new areas of untapped potential, particularly in nuclear energy, critical minerals, green hydrogen, artificial intelligence and cutting-edge technologies nse .
The following MoUs and Agreements were signed during the 9-10 Sept visit, which set the stage for enhancing cooperation in traditional as well as new areas of cooperation bse :
MoU on Nuclear Cooperation between Nuclear Power Corporation of India Limited (NNPCIL) and Emirates Nuclear Energy Corporation (ENEC)
Agreement for long-term LNG supply between Abu Dhabi National Oil Company (ADNOC) and Indian Oil Corporation Limited
MoU between ADNOC and India Strategic Petroleum Reserve Limited (ISPRL)
Production Concession Agreement for Abu Dhabi Onshore Block 1 between Urja Bharat and ADNOC ibef .
MoU between Government of Gujarat and Abu Dhabi Developmental Holding Company PJSC (ADQ) on food parks development in India
The MoU on Nuclear Cooperation is expected to enhance cooperation in the operation and maintenance of nuclear power plants, sourcing of nuclear goods and services from India, exploring mutual investment opportunities and capacity building world-nuclear.org.
The Agreement for long-term supply of LNG is for 1 million metric tonne per annum (MMTPA) and is the third such contract signed in just over a year. Both IOCL and GAIL had previously signed long-term Agreements for 1.2 MMTPA and 0.5 MMTPA, respectively, with ADNOC. These contracts have strengthened energy security in India by diversifying LNG sources.
The MoU between ADNOC and ISPRL, inter alia, provides for exploring ADNOC’s participation in additional opportunities for crude storage in India and the renewal of their storage and management agreement on mutually acceptable terms and conditions opec . This MoU builds on ADNOC’s existing involvement in crude storage at the Mangalore Cavern of ISPRL since 2018.
The Production Concession Agreement for Abu Dhabi Onshore Block 1 between Urja Bharat (a JV of IOCL and Bharat Petro Resources Ltd) and ADNOC is the first one for any Indian company operating in the UAE. The concession entitles Urja Bharat to bring crude oil to India, thus contributing towards the country’s energy security.
The MoU on Food Parks conveys ADQ’s expression of interest in developing Gundanpara, Bavla, Ahmedabad as a highly promising site for this ambitious project, with a view to commencing the Food Park project in Q2 2025 wfp.org. Government of Gujarat shall facilitate ADQ and AD Ports, to obtain detailed information regarding the site and assist in obtaining necessary permissions. Fiinews.com
