The Abu Dhabi National Oil Company (ADNOC) announced on May 15 the exchange of two strategic collaboration agreements with Indian partners, witnessed by UAE President Sheikh Mohamed bin Zayed Al Nahyan and India’s Prime Minister Narendra Modi. The agreements are aimed at strengthening the UAE-India energy partnership.
These collaborations are significant as they support India’s growing energy demand and economic growth, reinforcing ADNOC’s position as a reliable supplier to India. The deals focus on crude oil, liquefied natural gas (LNG), and liquefied petroleum gas (LPG) storage, as well as expanding supply chains between the two countries.
Dr. Sultan Al Jaber, ADNOC Managing Director and Group CEO, said: “India’s scale and growth trajectory make it one of the defining energy markets of our time. As demand accelerates alongside a rapidly expanding population, the strength of the UAE–India energy partnership becomes ever more critical. These agreements reinforce supply security, deepen our strategic ties, and underscore ADNOC’s role as a dependable and reliable partner in powering India’s long-term economic growth.”
One agreement was exchanged with Indian Strategic Petroleum Reserves Limited to explore opportunities for storing crude oil, LNG, and LPG in both countries. This includes potentially increasing ADNOC’s crude oil storage in India up to 30 million barrels at locations such as Mangalore and possibly new sites at Vishakhapatnam and Chandikol. The deal also considers storage options in Fujairah for India’s reserves.
Another agreement was signed with Indian Oil Corporation to expand LPG supply and trading cooperation through ADNOC Global Trading. This builds on an existing contract since 2023 between the companies for LPG supply.
The broader relationship between the UAE and India is based on a Comprehensive Strategic Partnership that has grown across trade, energy, and infrastructure sectors in recent years. Following their Comprehensive Economic Partnership Agreement that took effect in 2022, both nations have set a target of $200 billion in bilateral trade by 2032.
