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Two key energy cooperation agreements to be signed during PM’s UAE visit
The article reports that during Prime Minister Narendra Modi’s May 15 visit to the UAE, India and UAE are expected to sign two strategic energy cooperation agreements: one on LPG supplies between IOC and ADNOC, and another on strategic petroleum reserves between ISPRL and ADNOC. It also notes existing storage arrangements and broader energy and trade ties between the two nations.
Why It Matters
Energy security is a priority for India, and the UAE is a major partner. Signing these agreements could bolster long-term energy supplies and storage cooperation amid regional volatility and a push to expand bilateral trade.
Timeline
5 Events
India's LNG relationship with UAE (long-term contracts with ADNOC)
May 13, 2026
India is the largest buyer of UAE LNG, with Indian companies signing long-term supply contracts with ADNOC for 4.5 million metric tonnes per annum (mmtpa).
ADNOC-ISPRL storage agreement for crude oil at Mangalore
May 13, 2026
ADNOC already has an agreement with ISPRL to store more than five million barrels of crude oil at a facility in Mangalore.
Signing of LPG supplies and SPR agreements during Modi's UAE visit
May 13, 2026
As reported on May 13, 2026, Modi's UAE visit on May 15 will feature the signing of a strategic collaboration agreement on liquefied petroleum gas (LPG) supplies between Indian Oil Corporation (IOC) and Abu Dhabi National Oil Company (ADNOC), and a strategic collaboration agreement on strategic petroleum reserves between ISPRL and ADNOC.
Bilateral trade and investment context (2025-26)
2025
Two-way trade in goods between India and the UAE surpassed $101.25 billion in the 2025-26 period; India seeks to double trade to $200 billion by 2032. The UAE is India's seventh-largest investor with cumulative FDI of $25.19 billion, and a local currency settlement system is in place.
UAE as an energy partner: 2025 crude oil sourcing
2025
The UAE was the fourth-largest source of India's crude oil in 2025, meeting about 11% of India's needs.