New Delhi: Oil India Limited (OIL) and Mahanagar Gas Limited (MGL) signed a Memorandum of Understanding (MoU) to explore joint opportunities across the liquefied natural gas (LNG) value chain and other clean energy segments.
The MoU was signed by the Executive Director (Business Development), OIL, and the Vice President (Business Development, BIS, Commercial & STU), MGL, in the presence of OIL Director (Operations) P K Goswami, Director (HR) D C Sahoo, and MGL Managing Director Mahesh V. Iyer.
OIL, a Maharatna company under the Ministry of Petroleum and Natural Gas, has been expanding its gas production and clean energy portfolio. The company is pursuing a roadmap to strengthen its presence in the evolving energy sector.
MGL, one of India’s leading city gas distribution firms, has entered the LNG value chain through LNG retail stations and is also focusing on renewable and clean energy projects.
Officials said the agreement aims to assess the feasibility of LNG applications in heavy-duty transport and other industrial uses, besides exploring areas of mutual interest in the clean energy domain.
“The MoU is expected to facilitate cooperation in developing LNG and clean fuel infrastructure and jointly exploring new opportunities in the energy transition space,” an OIL statement said.
