ABU DHABI, 31 October 2022 (WAM) — Abu Dhabi National Oil Company (ADNOC) and GAIL (India) Limited today signed a Memorandum of Understanding to explore opportunities for cooperation in the supply and decarbonization of liquefied natural gas (LNG) signed. Short-term and long-term LNG sales contracts.
The agreement also includes potential optimization of LNG trading activities, review of renewable energy co-financing and monitoring of LNG cargoes for greenhouse gases, supporting low-carbon LNG supply.
The agreement was signed in the presence of Abu Dhabi National Oil Company (ADNOC) Minister of Industry and Advanced Technologies Sultan bin Ahmed Al Jaber, Special Envoy for Climate Change, Managing Director and Group CEO Sri Haddeep Singh. was done. Puri, Minister of Oil and Natural Gas and Minister of Housing and Urban Affairs, India.
The deal was signed at the Abu Dhabi International Petroleum Exhibition (ADIPEC) by Sandeep Kumar Gupta, Chairman and Managing Director of GAIL (India) Ltd, and Fatema Al Nuaimi, CEO of ADNOC LNG.
Dr. Al Jaber said: Through this significant new contract, ADNOC and GAIL will share opportunities to expand their commercial partnership and explore new projects, decarbonization initiatives and renewable energy, with a particular focus on low-carbon energy supply, in this case LNG. Explore joint opportunities. ”
Sri Haddeep Singh Puri said: This MoU of his will help him open up opportunities for both GAIL and ADNOC in the energy sector and facilitate trade and commercial relations between the two countries. ”
GAIL is one of India’s largest natural gas companies, integrated across the value chain including domestic and international exploration and production, processing, transmission, distribution, marketing, petrochemicals, LNG trading and transportation, city gas distribution and related services. I am doing business. We are expanding our presence in renewable energy such as solar, wind and biofuels.
ADNOC is a responsible and reliable provider of energy products to customers around the world. The company was his first LNG producer in the Middle East and he has over 40 years of experience in the LNG market. We are currently in the midst of a major expansion of our natural gas business, accelerating production to meet domestic and international demand.