WEB DESK: India has become the leading importer of liquefied natural gas (LNG) from the UAE following the signing of a $3 billion agreement. This landmark deal positions India as the largest consumer of UAE’s LNG exports.
The pact was finalized during a brief visit by UAE President Sheikh Mohamed bin Zayed Al Nahyan to India, where he held discussions with Prime Minister Narendra Modi.
Both leaders reaffirmed their dedication to boosting bilateral trade to $200 billion over the next six years and emphasized the importance of forging a strategic defense alliance.
According to the agreement, Abu Dhabi’s government-owned company will supply India with 500,000 metric tons of LNG each year for a decade. The company reports that its total contracts with India now exceed $20 billion.
Sheikh Mohamed was accompanied by key officials, including the Defense Minister and Foreign Minister, during his visit.
Furthermore, the two nations signed a Letter of Intent to deepen their strategic defense collaboration and pursue a comprehensive partnership in security and military cooperation.
