INDIA signed a $3 billion deal yesterday to buy liquefied natural gas from the UAE, making it the UAE’s top customer, as the leaders of both countries held talks to strengthen trade and defence ties.
The agreement was signed during a very brief two-hour visit to India by UAE President Sheikh Mohammed bin Zayed Al Nahyan for talks with Indian Prime Minister Narendra Modi. They pledged to double bilateral trade to $200bn in six years and form a strategic defence partnership.
Abu Dhabi state firm ADNOC Gas will supply 0.5 million metric tonnes of LNG a year to India’s Hindustan Petroleum Corp for 10 years, the companies said.
ADNOC Gas said the agreement brings the total value of its contracts with India to over $20bn.
“India is now the UAE’s largest customer and a very important part of ADNOC Gas’ LNG strategy,” the company said.
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