Abu Dhabi National Oil Company (ADNOC) and GAIL (India) Limited have signed a Memorandum of Understanding to explore collaboration opportunities in liquefied natural gas (LNG) supply and decarbonisation, including short and long-term LNG sales agreements.
The agreement also includes the potential optimization of LNG trading activities, the review of joint equity investments in renewables, and the monitoring of greenhouse gasses for LNG cargoes, to support low carbon LNG supplies.
The agreement was exchanged between Sandeep Kumar Gupta, Chairman, and Managing Director, GAIL (India) Ltd, and Fatema Al Nuaimi, CEO ADNOC LNG in the presence of His Excellency Dr. Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology, UAE Special Envoy for Climate Change, and ADNOC Managing Director and Group CEO, and H.E. Shri Hardeep Singh Puri, India’s Minister of Petroleum and Natural Gas and Minister of Housing and Urban Affairs at Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC).
GAIL is one of India’s largest natural gas companies with integrated operations across the value chain, including exploration and production, processing, transmission, distribution, marketing, petrochemicals, LNG trading and shipping, city gas distribution, and related services, both domestically and internationally, as well as expanding its presence in renewable energies including solar, wind and biofuels.
ADNOC is a responsible and reliable provider of energy products to customers globally. The company was the first LNG producer in the Middle East and has over 40 years of experience in the LNG market. It is currently in the midst of a major expansion of its natural gas business, accelerating production to meet both domestic and international demand.