The UAE will remain a "trusted and dependable" crude supplier for India, as the world's most populous country and third-largest energy consumer focuses on rapid economic growth, a forum heard on Tuesday.
“Progress and growth at this scale and pace requires a special kind of partnership,” Dr Sultan Al Jaber, UAE Minister of Industry and Advanced Technology and managing director and group chief executive of Adnoc, said during India Energy Week 2026 in Goa.
“Partnership that is strategic, long-term, agile and flexible. Steadfast, dependable, principled and consistent. Partnership that is based on trust and will endure through thick and thin. This is precisely what defines the UAE–India relationship," he added.
India is currently Adnoc’s number one market for liquefied natural gas, while the UAE company is also India’s largest liquefied petroleum gas supplier.
"As India consumes more crude to fuel its refineries, Adnoc is proud to be a trusted, dependable supplier. As India aims to double natural gas in its energy mix, we have made this nation our number one market for LNG," Dr Al Jaber said.
"As millions of Indian households turn to cleaner cooking fuels, we are already India’s largest supplier of LPG. We will continue to supply feedstocks and chemicals for India’s petrochemical and industrial needs."
The UAE is also supporting India’s clean energy ambitions through Alterra, its climate investment vehicle, he added, with investments totalling 11 gigawatts across wind, solar and battery storage.
Oil demand soaring
Globally, oil demand will remain above 100 million barrels per day through 2040, with demand for LNG and electricity to grow by at least 50 per cent, Dr Al Jaber said. Electricity demand will be driven not only by artificial intelligence and data centres, but increasingly by cooling, he added.
The number of air conditioning units around the world are projected to more than triple to 5.6 billion by 2050 – that is equal to 10 AC units sold every second for the next 30 years. “Demand at this scale and pace requires investment in all forms of energy,” Dr Al Jaber said. “The biggest risk is not over supply, it is underinvestment.”
India is a major energy consumer. Over the next 15 years, its air travel is expected to grow by 150 per cent, the country’s urban population will approach one billion people and data centre capacity is anticipated to surge 10-fold.
The UAE has been deepening ties with the Asian nation across sectors. President Sheikh Mohamed last week held high-level talks with Indian Prime Minister Narendra Modi in New Delhi as part of a working visit, as the two countries struck deals aimed at bolstering ties in energy, defence and space.
A 10-year sales and purchase agreement – valued at between $2.5 billion to $3 billion – was made between Adnoc Gas and Hindustan Petroleum Corporation Limited as part of the visit.
The UAE and India in 2022 signed a Comprehensive Economic Partnership Agreement, which resulted in bilateral non-oil trade between the two nations hitting $50.5 billion in the first 12 months from its signing.
During the recent visit, the leaders of both countries agreed to double bilateral trade to $200 billion by 2032. “In an era of constant change, reliable partnerships are the real strategic reserves," Dr Al Jaber said.
