Pacts on N-plant, LNG as Modi hosts Abu Dhabi crown prince on 1st visit

NEW DELHI: India and the UAE discussed ways to boost their comprehensive strategic partnership with focus on energy security as PM Narendra Modi held talks with Abu Dhabi Crown Prince Sheikh Khaled bin Mohamed bin Zayed Al Nahyan. The two sides signed five MoUs including one for nuclear cooperation and another for long-term LNG supply between Abu Dhabi National Oil Company (ADNOC) and Indian Oil Corporation Limited.

This is the first visit by the crown prince, son of UAE President Mohamed bin Zayed Al Nahyan who is known to share a close rapport with Modi, to India in his official capacity. A list of documents signed said the MoU for nuclear cooperation is in the field of Barakah Nuclear Power Plant Operations and Maintenance between Emirates Nuclear Energy Company (ENEC) and Nuclear Power Corporation of India Limited (NPCIL). Barakah is UAE's first nuclear plant and an important part of the country's efforts to diversify its energy sources.

India, UAE exploring mutual investment opportunities
The govt, in a statement, said, "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."

"We had fruitful talks on a wide range of issues. His passion towards strong India-UAE friendship is clearly visible," said Modi in a post on X.

According to Indian authorities, the agreement for long-term supply of LNG is for 1 million metric tonne per annum and is the third such contract signed in just over a year. These contracts have strengthened energy security in India by diversifying LNG sources, said the Indian govt.

The MoU between ADNOC and India Strategic Petroleum Reserve Limited (ISPRL) 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. Another MoU between Urja Bharat (a JV of IOCL and Bharat Petro resources Ltd) and ADNOC, the first for any Indian company operating in the UAE, will allow Urja Bharat to bring crude oil to India, according to the govt, thus contributing towards the country's energy security. The fifth MoU was for development of food parks in India.

The leaders 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.

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.


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