ADNOC, GAIL Pen LNG Collaboration Agreements
Abu Dhabi National Oil Company and GAIL signed an MoU to explore collaboration opportunities in LNG supply and decarbonization, 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 signed by the Chairman and Managing Director of GAIL India Sandeep Kumar Gupta and the CEO of ADNOC LNG Fatema Al Nuaimi at the Abu Dhabi International Petroleum Exhibition and Conference.
Also present were the Minister of Industry and Advanced Technology, UAE Special Envoy for Climate Change, ADNOC Managing Director, and Group CEO Ahmed Al Jaber and India’s Minister of Petroleum and Natural Gas and Minister of Housing and Urban Affairs Shri Hardeep Singh Puri.
“India is a strategic partner of the UAE, and we have a strong and longstanding bilateral relationship. Through this important new agreement, ADNOC and GAIL will seek opportunities to broaden our commercial partnership, with a particular focus on lower carbon energy supplies, in this case, LNG, and joint opportunities for collaboration in new projects, decarbonization efforts, and renewable energy,” Al Jaber said.
“India and the UAE enjoy strong bonds of friendship since historical times and this relationship is being further cemented through such partnerships. This MOU opens opportunities for both GAIL and ADNOC in the energy sector which in turn helps to boost the trade and commerce relations between the two nations,” Shri Hardeep Singh Puri added.
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 during a major expansion of its natural gas business, accelerating production to meet both domestic and international demand.
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