New Delhi: Oil India Limited (OIL) on Tuesday said that it has signed a Memorandum of Understanding (MoU) with GAIL (India) Limited to strengthen cooperation across the natural gas value chain and unlock synergies for expanding access to cleaner energy across the country.
The MoU has been executed by GAIL’s Director (Marketing) Sanjay Kumar and OIL’s Director (Operations) Trailukya Borgohain in presence of the Ministry of Petroleum & Natural Gas (MoPNG) Secretary Pankaj Jain, Additional Secretary Praveen M Khanooja, Joint Secretary (General Petroleum) Asheesh Joshi, GAIL’s CMD Sandeep Kumar Gupta, and OIL’s CMD Dr Ranjit Rath.
Speaking on the occasion, Petroleum Secretary stated that the MoU is a timely step towards enhancing domestic gas availability and ensuring its seamless access to demand centres across India. He emphasized that collaborations such as this between OIL and GAIL are crucial in realizing the Government’s vision of a gas-based economy and in accelerating the country’s energy transition.
Speaking on the occasion, GAIL CMD stated that the collaboration would contribute to enhancing national energy security, expanding access to natural gas and supporting the Government’s vision of cleaner, sustainable energy for all.
While OIL CMD said that the MoU represents a significant step in leveraging OIL’s upstream strengths alongside GAIL’s proven expertise in marketing and gas distribution infrastructure to accelerate the country’s progress towards a gas-based economy while creating value for all stakeholders.
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