Prime Minister Narendra Modi’s five-nation visit scheduled from May 15 to 20 is expected to strengthen India’s strategic ties with Europe and the UAE, with a strong emphasis on energy cooperation, trade expansion and geopolitical engagement amid evolving global dynamics.
The Prime Minister is likely to begin the tour in the UAE before travelling to Italy and other European nations. While discussions in Europe are expected to centre on technology partnerships and economic collaboration, the UAE visit highlights India’s continued focus on securing long-term energy supplies.
The UAE remains one of India’s key energy partners. In the previous year, it emerged as the country’s fourth-largest crude oil supplier, contributing nearly 11 per cent of India’s total imports. It also ranks as India’s third-largest LNG supplier, backed by long-term agreements between Indian firms and ADNOC Gas that guarantee 4.5 MMTPA of LNG supplies. India is currently the biggest buyer of LNG from the UAE.
Apart from crude and LNG, the Gulf nation is also India’s largest supplier of LPG, fulfilling almost 40 per cent of domestic demand. Bilateral energy ties have become increasingly mutual, with the UAE turning into the second-largest market for India’s petroleum, oil and lubricant exports, valued at over USD 6 billion.
Indian investments in the UAE’s energy sector have also grown steadily. In 2018, a consortium of OVL, BPRL and IOCL acquired a 10 per cent stake in the Lower Zakum offshore field. A year later, Urja Bharat Private Limited, a joint venture between BPRL and IOCL, secured a stake in Abu Dhabi Onshore Block-1. Earlier this year, BPRL announced a fresh oil discovery in the block, marking a major achievement for India’s overseas energy investments in West Asia.
