November 1, 2022
2 mins read

ADNOC, GAIL in deal to explore LNG, decarbonisation opportunities

The agreement was signed by Sandeep Kumar Gupta, Chairman and Managing Director, GAIL (India) Ltd and Fatema Al Nuaimi, CEO ADNOC LNG…reports Asian Lite News

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.

The agreement also includes 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.

The agreement was exchanged in the presence of Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, UAE Special Envoy for Climate Change and Managing Director and Group CEO of the Abu Dhabi National Oil Company (ADNOC), and Hardeep Singh Puri, India’s Minister of Petroleum and Natural Gas and Minister of Housing and Urban Affairs.

The agreement was signed by Sandeep Kumar Gupta, Chairman and Managing Director, GAIL (India) Ltd and Fatema Al Nuaimi, CEO ADNOC LNG, at Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC).

Dr. Al Jaber said, “India is a strategic partner of the UAE, and we have a strong and long-standing 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, decarbonisation efforts and renewable energy.”

Shri Hardeep Singh Puri 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 up 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.”

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.

ALSO READ: COP27, COP28 promote joint climate action: UAE envoy

Previous Story

Sedition law: ‘Something may happen’ in Winter Session

Next Story

MBZ receives phone call from UK’s Sunak

Latest from -Top News

IAEA sounds nuclear alarm in Iran

UN nuclear watchdog urges restraint, calls for diplomacy to prevent crisis. The head of the International Atomic Energy Agency (IAEA), Rafael Grossi, has issued a stark warning about the potential nuclear fallout

Trump says it’s hard to tell Israel to stop

President downplays European diplomacy as Israeli jets strike over 35 Iranian missile sites US President Donald Trump has said it would be “difficult” to ask Israel to stop its ongoing airstrikes on

Modi calls Yoga a journey from ‘me’ to ‘we’

PM Modi showered praise on the Andhra Pradesh government for hosting this year’s national celebrations, commending Chief Minister N. Chandrababu Naidu and Deputy Chief Minister Pawan Kalyan for their leadership. Prime Minister

UK unites for Yoga Day

Celebrations held across iconic landmarks and campuses under theme ‘One Earth, One Health’ The Indian diaspora and local communities across the United Kingdom gathered in large numbers on Friday to mark the

Kenya’s Odinga Slams Adani Deal U-Turn

Before the cancellation of the deal, Odinga was among the leaders who defended the Adani Group….reports Asian Lite News Kenya’s former Prime Minister Raila Odinga on Friday expressed disappointment over the cancellation
Go toTop

Don't Miss

COP28 Showcases 17 Faces of Emirati Female Leaders

Noura Al Suwaidi, Secretary-General of the GWU, said the exhibition’s

G42, Microsoft to launch two AI centres in Abu Dhabi

The first centre will convene academic researchers and AI practitioners