India-UAE sign pacts on LNG supplies, nuclear power cooperation as Crown Prince visits New Delhi
State-run entities of India and UAE on Monday signed pacts in the energy space during the visit of Crown Prince of Abu Dhabi, Sheikh Khaled bin Mohamed bin Zayed Al Nahyan to New Delhi.
The two countries signed five agreements including a long-term LNG supply contract between Abu Dhabi National Oil Company (ADNOC) and Indian Oil Corporation Ltd and a memorandum of understanding (MoU) on nuclear cooperation between Nuclear Power Corporation of India Ltd and Emirates Nuclear Energy Corp.
The agreement for LNG supply of 1 million metric tonnes per annum to IOCL by ADNOC is the third such long-term 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.
Source : The Mint
