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Informist, Monday, Sep 9, 2024

 

--Govt: IOC, Abu Dhabi Natl Oil Co ink pact for long-term LNG supply

 

NEW DELHI – Indian Oil Corp Ltd and the Abu Dhabi National Oil Co today signed an agreement for long-term supply of liquefied natural gas following talks between Prime Minister Narendra Modi and Crown Prince of Abu Dhabi Sheikh Khalid bin Mohamed bin Zayed Al Nahyan.

 

India and the United Arab Emirates inked four pacts to expand energy cooperation. A memorandum of understanding was signed between the Emirates Nuclear Energy Co and Nuclear Power Corp of India Ltd for operations and maintenance of the Barakah Nuclear Power Plant.

 

A memorandum of understanding between Abu Dhabi National Oil Co and India Strategic Petroleum Reserve Ltd, and a production concession agreement for Abu Dhabi Onshore Block 1 between Urja Bharat and Abu Dhabi National Oil Co were the other pacts inked today.

 

The crown prince arrived in New Delhi on Sunday for his maiden two-day visit to India on Modi's invitation. The two leaders met at Hyderabad House to hold bilateral talks on a range of areas.

 

Abu Dhabi National Oil Co signed a 15-year deal to supply Indian Oil Corp with 1 mtpa of LNG, which will be primarily sourced from the Abu Dhabi company’s lower-carbon Ruwais LNG project. Abu Dhabi National Oil Co also signed a pact to extend its existing oil storage agreement and support India’s energy security.

 

Emirates Nuclear Energy Co has partnered with the Nuclear Power Corp to provide a formal framework to share knowledge and exchange expertise across all areas of nuclear energy development, the Abu Dhabi media office said. A memorandum of understanding was also signed between the Gujarat government and Abu Dhabi Developmental Holding Co PJSC (ADQ) on developing food parks in India.

 

The meeting between the leaders also featured discussions on the UAE and India’s historic bonds of friendship and cooperation across key sectors, as well as the two countries' perspectives on several topics of mutual interest.

 

The external affairs ministry said in a post on social media site X that the two leaders discussed the multifaceted relations between their countries and avenues to broaden the comprehensive strategic partnership to new and emerging areas.

 

The crown prince planted a sapling at Rajghat, highlighting the India-UAE sustainability connection and Mahatma Gandhi's universal teachings, the ministry added.  End

 

Reported by Kuldeep Singh

Edited by Rajeev Pai

 

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