Abu Dhabi: A UAE minister stated that during Prime Minister Narendra Modi's visit, India and the UAE will concentrate on managing rising energy pressures and boosting fuel security. The discussions take place while India is under greater strain due
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Abu Dhabi: A UAE minister stated that during Prime Minister Narendra Modi's visit, India and the UAE will concentrate on managing rising energy pressures and boosting fuel security.
The discussions take place while India is under greater strain due to rising global crude prices and supply interruptions caused by volatility in important West Asian shipping lanes, particularly the Strait of Hormuz.
According to officials, the discussions will focus on developing collaboration in strategic petroleum reserves and fuel storage infrastructure, as well as assuring steady, long-term supply of LNG and crude oil.
As New Delhi attempts to safeguard its economy from global market volatility, the UAE, a significant energy supplier to India, is anticipated to play a significant role in helping to stabilise imports.
In order to reduce exposure to risky transit corridors, both parties would probably look into ways to improve supply chain resilience, such as making more use of the UAE's port and logistical network, such as Fujairah.
The involvement is a component of India's larger initiative to establish trustworthy energy alliances and lower the risks associated with geopolitical crises that might affect the world's oil markets.
Pic Credit: AFP
