ADNOC and GAIL of India sign MoU to explore LNG supply and decarbonization opportunities
Abu Dhabi National Oil Company (ADNOC) and GAIL (India) Limited 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, according to ADNOC's release.
The agreement also includes 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.
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’ 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.
