ADNOC, India's Gail sign LNG MoU
Abu Dhabi National Oil Company (ADNOC) and Indian state-owned gas company Gail on October 31 signed a memorandum of understanding to explore collaboration opportunities in LNG supply and decarbonisation, including short and long-term LNG sales agreements.
The agreement also includes the potential optimisation 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, ADNOC said.
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The agreement was exchanged between Sandeep Kumar Gupta, chairman and managing director, Gail and Fatema Al Nuaimi, CEO ADNOC LNG 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.