Abu Dhabi National Oil Company (ADNOC) and GAIL (India), a natural gas company, have signed a deal to explore liquefied natural gas (LNG) supply and decarbonisation opportunities.
The agreement, signed at ADIPEC on Monday, also includes “potential optimization of LNG trading activities, the review of review joint equity investments in renewables and the monitoring of greenhouse gases for LNG cargoes,” according to a statement.
With the deal, the firms will also review joint collaboration and investment opportunities in both energy and renewables.
“Through this important new agreement, ADNOC and GAI will see 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,” said Sultan Ahmed Al Jaber, UAE Minister of Industry and Advance Technology, Special Envoy for Climate Change and ADNOC Managing Director and Group CEO.
GAIL operates across the value chain, including exploration, production, processing, transmission, distribution, marketing, petrochemicals, LNG trading/shipping, city gas distribution and related services, both in India and abroad.
(Reporting by Cleofe Maceda; editing by Seban Scaria )