Narendra Modi likely to seek more energy supplies from UAE during short visit, sources say
Indian Prime Minister Narendra Modi will visit the United Arab Emirates briefly on Friday, where he is likely to discuss long-term energy supply deals and seek support to expand his country's strategic oil reserves, three sources said.
The UAE will be Modi's first stop on a five-nation tour from May 15 to 20, as the world's third-largest energy importer seeks to secure supplies that have been badly disrupted by the U.S.-Israeli war on Iran. The UAE's recent exit from OPEC is expected to boost its output and help countries like India.
Trips to the UAE by heads of governments have been rare since the war began and Iran launched strikes on the country.
The UAE is one of India's biggest suppliers of crude oil and natural gas. In January, India signed a $3 billion deal to buy liquefied natural gas from the Gulf nation.
Modi will meet UAE President Sheikh Mohamed bin Zayed Al Nahyan and will discuss a range of issues, in particular energy cooperation, India's foreign ministry said. The UAE is India's third-largest trade partner and is home to more than 4.5 million Indians.
The three Indian sources said Modi is likely to seek help with long-term supplies of cooking gas and crude oil, in addition to expanding India's strategic reserves. They did not give additional details and declined to be named publicly because they were discussing potential government-to-government negotiations.
India has three strategic reserve facilities with a total capacity of 5.33 million metric tons (MMT) and plans to build two more with additional capacity of 6.5 MMT. India has leased about 1.5 MMT of the existing capacity to Abu Dhabi National Oil Co (ADNOC).
India's oil and gas ministry did not respond to an email seeking comment. ADNOC declined to comment ahead of the visit and the UAE foreign ministry did not respond to an emailed request for comment.
In 2015, Modi became the first Indian premier to visit the UAE in 34 years. The upcoming trip would be his eighth.
The countries plan to double bilateral trade to $200 billion in six years and form a defence partnership. India's rival Pakistan has a defence deal with Saudi Arabia, whose rift with the UAE has widened in recent years.
From the UAE, Modi will take off for the Netherlands, Sweden, Norway and Italy.
