News Desk
NEW DEHLLI: India emerged as the United Arab Emirates’ largest importer of liquefied natural gas after the two countries concluded a $3bn long-term supply agreement, a move that underlined the growing depth of their economic and strategic relationship.
The deal was finalized during a short but high-profile visit to New Delhi by the UAE president, Sheikh Mohammed bin Zayed al-Nahyan, who held talks with India’s prime minister, Narendra Modi. Under the agreement, Abu Dhabi’s state-owned energy company committed to supplying India with 500,000 metric tons of LNG each year over the next decade.
Officials said the arrangement would help India meet its rising energy demand as it seeks to transition away from more polluting fuels, while providing the UAE with a stable and expanding market in South Asia. The LNG contract pushed the overall value of agreements signed between the two countries to more than $20bn.
