Prime Minister Narendra Modi. (File Photo/ANI) At a time when the Indian government is adopting austerity measures amid the looming energy crisis due to the closure of the Strait of Hormuz, India and the UAE are likely to sign two pacts in the areas of “LPG and Strategic Petroleum Reserves” during Prime Minister Narendra Modi’s visit on May 15, sources said on Wednesday. During the PM’s visit to the UAE , sources stated that one of the key areas of focus will be “energy security”. “Two important MoUs in the areas of LPG and Strategic Petroleum Reserves are likely to be concluded during this visit,” the source said. Underlining that the UAE has been an important partner in India’s energy security, sources said that “last year, the UAE was the 4th largest source of crude oil meeting nearly 11% of our requirement”. UAE is the largest source of LPG for India, meeting nearly 40 per cent of India’s requirement, sources said.…