India has quietly signed two long term LNG contracts with France and UAE for supply of 2 million metric tons of gas.With United Arab Emirates becoming the first country to include oil and gas in Rupee-Dirham trade, all eyes are now on India’s close allies Saudi Arabia, the second largest exporter for crude oil to India, and Qatar, the largest supplier of LNG to India, whether they will have the same game-changing confidence in India as President Sheikh Mohammed bin Zayed Al Nahyan and join the local currency trade bandwagon.
