Agreements with Indian firms aim to bolster crude, LNG, and LPG storage amid global supply-chain challenges and rising energy demand.
Abu Dhabi National Oil Company (ADNOC) signed agreements with Indian partners to expand crude oil, LNG, and LPG storage, targeting up to 30 million barrels in India. The deals include existing storage at Mangalore and potential new sites at Vishakhapatnam and Chandikol, alongside LPG supply expansions.
The agreements build on existing energy ties, including a 2023 LPG term contract with Indian Oil Corporation. ADNOC also explores storage opportunities in Fujairah as part of India’s strategic petroleum reserves, aiming to enhance energy security.
The deals were announced during a meeting between UAE President Sheikh Mohamed bin Zayed Al Nahyan and Indian Prime Minister Narendra Modi, highlighting the strategic UAE-India energy corridor.