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ISLAMABAD:&nbsp;The United Arab Emirates and India on Monday signed a major liquified natural gas supply agreement worth more than $2.5 billion, while reaffirming their ambition to double bilateral trade to $200 billion by 2032. The 10-year <a href="https://www.pakistantv.com/article/drone-strike-hits-iraq-gas-complex-cuts-supply-official" target="_blank" style="color:#0073e6;" rel="noopener noreferrer">LNG deal</a> was signed between ADNOC Gas, a subsidiary of the Abu Dhabi National Oil Company, and India&rsquo;s state-run Hindustan Petroleum Corporation Ltd. Under the agreement, ADNOC Gas will supply 0.5 million metric tons of LNG annually to India. ADNOC Gas said the contract raises the total value of agreements supported and operated by the company to more than $20 billion and positions India as its largest natural gas customer. From 2029 onward, Indian companies are expected to account for just over one-fifth of ADNOC Gas&rsquo;s annual production capacity of 15.6 million tons. The agreement was finalized on the sidelines of a visit by <a href="https://www.pakistantv.com/article/uae-president-al-nahyan-to-visit-pakistan-on-dec-26" target="_blank" style="color:#0073e6;" rel="noopener noreferrer">UAE President</a> Sheikh Mohamed bin Zayed Al Nahyan to New Delhi, where he held talks with Indian Prime Minister Narendra Modi. In a joint statement, the two leaders welcomed the strong growth in trade since the signing of a comprehensive economic partnership agreement in 2022 and committed to doubling bilateral trade to $200 billion by 2032. Beyond energy and trade, the two sides also moved to deepen strategic cooperation. India and the UAE signed a letter of intent to begin drafting a framework for a strategic defense partnership, Indian Foreign Secretary Vikram Misri said. The proposed agreement aims to expand defense collaboration across special operations, interoperability, cyberspace, and counterterrorism. Misri said the initiative was a natural progression of existing defense ties and not a response to any specific regional developments. The latest agreements underscore the rapidly expanding economic, energy, and strategic relationship between India and the UAE, reflecting growing alignment between the two countries across multiple sectors.

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The two countries aim to double bilateral trade to $200 billion by 2032.

Articles tagged with "Defense Agreement"

UAE, India sign $2.5B LNG deal