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Abu Dhabi Crown Prince Sheikh Khaled bin Mohamed bin Zayed’s visit to India reaped several agreements on the energy front, as well as on food and agriculture, according to a statement from the Abu Dhabi Media Office.
#1- Adnoc inked a 15-year LNG heads of agreement to supply 1 mn metric tonnes of liquefied natural gas annually to state-owned IndianOil. The LNG will be sourced mainly from Adnoc’s Ruwais LNG project in Abu Dhabi, which is set to go live in 2028.
REMEMBER- Adnoc agreed to supply Japan’s Osaka Gas with 0.8 mn metric tons of LNG annually in August, at which point it said it had secured off-take agreements for 70% of Ruwais LNG’s capacity, including 1 mn tons per year to Shell and 0.6 mn tons to Mitsui. The oil giant also struck supply agreements with China’s ENN, SEFE Marketing & Trading Singapore, and Germany’s Energie Baden-Württemberg.
#2-The Emirates Nuclear Energy Corporation and India’s Nuclear Power Corporation agreed to exchange expertise in nuclear energy development.
#3- Adnoc also agreed to extend an oil storage agreement with Indian Strategic Petroleum Reserve, according to the statement.
#4- Abu Dhabi wealth fund ADQ and the government of Gujarat also signed an MoU to establish a “major food and agriculture park” in India. The financial terms of the agreement and the timeline of the park’s construction were not disclosed.
