PM Modi's UAE Visit to Strengthen Energy Cooperation Amid Global Supply Challenges
PM's UAE visit to focus on energy cooperation, says MEA
Business Standard
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Prime Minister Narendra Modi's upcoming visit to the United Arab Emirates (UAE) on May 15 will focus on enhancing bilateral energy cooperation amidst disruptions in India's energy supply from the Gulf. This visit is part of a broader four-nation tour in Europe aimed at boosting trade and investment links.
- 01PM Modi will meet UAE President Sheikh Mohamed bin Zayed Al Nahyan on May 15.
- 02The UAE is India's third largest trade partner and a key energy supplier, providing nearly 11% of India's crude oil needs.
- 03Indian companies have significant investments in the UAE's energy sector, including long-term LNG supply contracts.
- 04The visit is part of a four-nation tour, including stops in the Netherlands, Sweden, Norway, and Italy.
- 05India and the UAE are expanding cooperation in renewable energy and biofuels.
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Prime Minister Narendra Modi is set to visit the United Arab Emirates (UAE) on May 15, focusing on strengthening energy cooperation amid supply disruptions due to ongoing conflicts in the region. The UAE is a crucial partner for India, being the third largest trade partner and supplying nearly 11% of India's crude oil needs. The visit follows a recent meeting between Modi and UAE President Sheikh Mohamed bin Zayed Al Nahyan, emphasizing the importance of trade and investment ties, with over 4.5 million Indians residing in the UAE. Furthermore, Indian companies have made substantial investments in the UAE's energy sector, including long-term contracts for 4.5 million metric tons per annum (MMTPA) of liquefied natural gas (LNG), making India the largest buyer of UAE's LNG. Modi's UAE visit is part of a broader four-nation tour that includes the Netherlands, Sweden, Norway, and Italy, aimed at enhancing India's global trade and investment relationships. The UAE and India are also collaborating on renewable energy projects, including a recent agreement for 60 gigawatts (GW) of renewable energy capacity. This visit is expected to bolster India's energy security and expand bilateral cooperation in various sectors.
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This visit is expected to enhance India's energy security and trade relationships, potentially stabilizing energy prices and supply for Indian consumers.
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