1 hr ago

India Explores UAE for Expanded LPG and LNG Supplies

India wants the United Arab Emirates to become a bigger supplier of LPG and LNG.

These are fuels used by homes, businesses and industries.

The two countries are studying underwater pipelines that could bring gas to India and store it there.

India also wants to build larger reserves of petroleum to prepare for disruptions.

The plan is linked to uncertainty caused by geopolitical tensions and shipping problems.

The UAE may increase its investments in India from about $25 billion to $100 billion.

The countries are also discussing ports, ships, aviation and financial technology.

They are using the Indian rupee and UAE dirham more often for trade.

Officials said trade is improving and Indian exports increased by more than 15% during the stated period.

Key facts

Potential UAE energy role: The UAE could become a more important source of LPG and LNG for India.
Subsea pipeline study: A study is examining whether underwater pipelines could bring gas into India and store it.
Strategic petroleum reserves: India and the UAE are working to expand India’s strategic petroleum reserves.
Targeted UAE investment: The two countries aim to raise UAE investment in India from around $25 billion to $100 billion.
Trade currencies: Bilateral trade increasingly uses the Indian rupee and UAE dirham, with conversion into dollars when required.
Maritime cooperation: Six areas identified include ship ownership, ports, ship manufacturing, ship repair, shipbreaking and container manufacturing.
Export growth: India’s merchandise exports rose by more than 15% between April and September 21 from the start of the financial year.

thestatesman.com · 2 hrs ago