India and UAE seal oil, gas and defence pacts as Modi visits Abu Dhabi
During Prime Minister Narendra Modi's visit to the United Arab Emirates, the two countries signed comprehensive agreements covering natural gas supply, strategic oil reserves and defence cooperation. The accords prioritise Indian Ocean energy security against the backdrop of the Iran crisis.
According to Economic Times, the package signed during Modi's Abu Dhabi visit includes expanding India's strategic oil reserves with UAE-sourced LNG and a partnership on unmanned aerial systems for the Indian coast guard. The accord aims to accelerate energy diversification after recent disruptions in the Strait of Hormuz.
Under the defence chapter, the two countries are putting their naval exercises on an annual calendar, setting up joint defence manufacturing lines and broadening intelligence sharing. Indian military officials say new logistical rights at UAE ports will widen India's operational reach.
In the energy chapter, ADNOC and the Indian Strategic Petroleum Reserves Limited (ISPRL) reportedly signed a storage agreement covering more than seven million barrels. The accords are expected to provide a medium-term buffer against India's rapidly rising diesel and crude prices. Reuters and Nikkei Asia note that the pact deepens the broader energy corridor negotiation.
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