ADNOC, GAIL to Explore LNG Supply Opportunities

SEATTLE (Oil Monster): The Abu Dhabi National Oil Company (ADNOC) and GAIL India Limited have signed a Memorandum of Understanding (MoU), aimed at exploring opportunities in LNG supply and decarbonization.

The agreement was signed between Sandeep Kumar Gupta, Chairman and Managing Director, GAIL (India) Ltd and Fatema Al Nuaimi, CEO ADNOC LNG. The ceremony was attended by His Excellency Dr. Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology among others.

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The agreement will seek to optimize LNG trading activities, explore joint equity investments in renewables and monitor supply of greenhouse gases for LNG cargoes.

H.E. Dr. Al Jaber said that the new agreement will help the partner companies to broaden their commercial partnership, with a particular focus on lower carbon energy supplies. He recalled that India and the UAE have a strong bilateral relationship in various fields, including energy.

Commenting on the new MoU, Hardeep Singh Puri, India’s Minister of Petroleum and Natural Gas noted that the partnership will further cement the strong bonds of friendship between the two countries. It will open up new opportunities in energy sector and boost the trade and commerce relations between the two countries, he added.