PM Modi Signs Strategic Petroleum Reserves MoU and LPG Deal with UAE During Visit to Abu Dhabi | Current Affairs

Prime Minister Narendra Modi visited Abu Dhabi on 15 May 2026 as part of his six-nation tour and signed several key agreements with UAE President Sheikh Mohamed bin Zayed Al Nahyan. The two countries inked a Memorandum of Understanding on Strategic Petroleum Reserves and a long-term LPG supply agreement between Indian Oil Corporation Limited (IOCL) and Abu Dhabi National Oil Company (ADNOC). An MoU was also signed for establishing a Ship Repair Cluster at Vadinar, Gujarat. Additionally, a Framework Agreement for a Strategic Defence Partnership was finalized, and the UAE announced investments worth USD 5 billion in Indian infrastructure, RBL Bank, and Sammaan Capital.

Background: The closure of the Strait of Hormuz due to the ongoing US-Iran conflict has severely disrupted global energy supplies. India, which relies heavily on LPG as a cooking fuel, has been under energy supply pressure. The UAE is already India's largest single supplier of LPG, meeting nearly 40% of the country's total LPG demand. This visit aimed to secure energy supply cushions and strengthen bilateral ties.

Key Points to Remember:

Visit: PM Modi to UAE (Abu Dhabi) on 15 May 2026
UAE President: Sheikh Mohamed bin Zayed Al Nahyan
Agreements signed:
- MoU on Strategic Petroleum Reserves (ISPRL – ADNOC)
- Long-term LPG supply deal (IOCL – ADNOC)
- MoU for Ship Repair Cluster at Vadinar, Gujarat
- Framework for Strategic Defence Partnership
UAE investment in India: USD 5 billion
UAE's share in India's LPG supply: ~40%
Context: Strait of Hormuz closure due to US-Iran conflict

Related Static GK:

IOCL full form: Indian Oil Corporation Limited
ADNOC full form: Abu Dhabi National Oil Company
ISPRL full form: Indian Strategic Petroleum Reserves Limited
Strategic Petroleum Reserves in India located at: Visakhapatnam, Mangaluru, Padur
India–UAE trade relationship: UAE is India's 3rd largest trading partner
Vadinar port: Located in Gujarat, operated by Nayara Energy