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UAE, India Deepen Energy Ties with Crude Storage, LPG Agreements

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India and the UAE deepened their energy partnership on Friday as state-owned energy firm Adnoc Group signed strategic agreements with Indian energy firms during Prime Minister Narendra Modi's visit to the Gulf nation.

The agreements expand cooperation across crude oil storage, liquefied natural gas, liquefied petroleum gas, and strategic petroleum reserves.

Adnoc signed an agreement with Indian Strategic Petroleum Reserves to explore opportunities for crude oil, LNG, and LPG storage in India and the UAE.

The deal includes the potential expansion of Adnoc crude storage capacity in India to about 30 million barrels, building on existing storage in Mangalore and including possible new facilities at Vishakhapatnam in Andhra Pradesh and Chandikol in Odisha.

The two sides will also study the possibility of storing crude oil in Fujairah, UAE, as part of India's strategic petroleum reserve system, as well as collaboration on LNG and LPG storage infrastructure in India.

Separately, Adnoc signed an agreement with Indian Oil Corporation to explore expanded LPG supply and trading opportunities.

The agreement builds on an existing LPG term contract between the companies, signed in 2023, and is expected to lead to a long-term LPG sale-and-purchase agreement between Adnoc Gas and Indian Oil.

Adnoc said the deal also envisages deeper integration across supply and shipping operations, including through Adnoc Global Trading.

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