India and UAE to Sign Energy Agreements on LPG and Strategic Oil Reserves This Week

India to Firm Up Energy Cooperation Agreements with UAE during PM Modi's Visit

India and the United Arab Emirates are expected to solidify two significant agreements to boost cooperation in the areas of liquefied petroleum gas (LPG) and strategic petroleum reserves during Prime Minister Narendra Modi's visit to the Gulf nation on May 15.

The key focus of Modi's trip to the UAE will be to enhance India's energy security. The prime minister will be in the Gulf nation for approximately four hours before embarking on a five-day, four-nation tour of Europe.

The visit comes days after the UAE announced its decision to quit the Organisation of the Petroleum Exporting Countries (OPEC), a major grouping of the world's top oil exporters. Besides energy security, PM Modi and UAE President Sheikh Mohamed bin Zayed Al Nahyan will explore ways to advance India-UAE comprehensive strategic partnership and exchange views on the West Asia conflict.

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The escalating conflict between the US and Iran has severely destabilised global energy markets, primarily due to Tehran's blockade of the Strait of Hormuz — a vital transit chokepoint, through which approximately 20 per cent of the world's total petroleum supply flows.

Table: Key Statistics on India-UAE Trade and Investment

PM Modi and President Al Nahyan are also expected to deliberate on boosting bilateral trade and investment ties. The UAE is India's third-largest trade partner and its seventh-largest source of investment cumulatively over the past 25 years.

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In the second leg of his trip, Modi will visit the Netherlands from May 15 to 17. It will be his second trip to the Netherlands after his previous visit in 2017. The prime minister will meet King Willem-Alexander and Queen Maxima, and hold talks with Prime Minister Rob Jetten.

The MEA said Modi's visit will provide an opportunity to further deepen and expand the multifaceted partnership. The Netherlands is one of India's largest trade destinations in Europe, with bilateral trade worth USD 27.8 billion in 2024-25. The European nation is India's fourth-largest investor with cumulative foreign direct investment of USD 55.6 billion.

From the Netherlands, the prime minister will travel to Sweden at the invitation of his Swedish counterpart Ulf Kristersson for a two-day trip from May 17 to 18. Modi had earlier visited Sweden in 2018 for the first-ever India-Nordic Summit. The prime minister is scheduled to hold bilateral talks with PM Kristersson to review the entire gamut of bilateral relations and explore new avenues of cooperation to enhance bilateral trade, which has reached USD 7.75 billion in 2025.

In their talks, the two sides are set to focus on boosting bilateral ties in areas of green transition, AI, emerging technologies, startups, resilient supply chains, defence, space, climate action, and people-to-people ties, according to the MEA.

In the fourth leg of his tour, Modi will undertake a visit to Norway from May 18 to 19 to attend the third India-Nordic summit and to hold bilateral talks with the leadership of the country. This will be the first visit of PM Modi to Norway. It will also mark the first visit by an Indian prime minister to Norway in 43 years.

The prime minister will call on King Harald V and Queen Sonja, and hold bilateral talks with Prime Minister Jonas Gahr Store. Modi will also address the India-Norway Business and Research Summit along with the Norwegian prime minister, the MEA said.

The European Free Trade Association (EFTA) nations are Iceland, Liechtenstein, Norway, and Switzerland. The third India-Nordic summit will take place in Oslo on May 19 and it will be joined by Modi and his counterparts from Norway, Denmark, Finland, Iceland, and Sweden.

The summit will build upon the two previous summits held in Stockholm in April 2018 and in Copenhagen in May 2022, and is expected to impart a more strategic dimension to India's relationship with the Nordic countries.

In the final leg of his tour, PM Modi will undertake an official visit to Italy from May 19 to 20 at the invitation of his Italian counterpart Giorgia Meloni. Modi had last visited Italy in June 2024 for the G7 Summit.

During the visit, he will call on President Sergio Mattarella and hold talks with PM Meloni. The visit takes place in the backdrop of a strong momentum in bilateral ties with both sides proactively implementing the joint strategic action plan 2025-2029, a comprehensive roadmap for cooperation in various sectors, the MEA said.

The India-Italy bilateral trade reached USD 16.77 billion in 2025. The focus of Modi's trip to Italy is likely to be to bolster ties in areas of investment, defence and security, clean energy, innovation, and science and technology.