Sharjah National Oil Corporation (SNOC) and Norway-based energy company Equinor have signed a memorandum of understanding (MoU) to explore downstream energy opportunities.

The agreement will assess potential cooperation in the storage, infrastructure, logistics, trading, supply and shipping of liquefied petroleum gas, natural gas liquids and other oil and gas products.

The companies will also examine selected energy transition opportunities and ways to optimise petrochemical storage facilities in the UAE.

Khamis Al Mazrouei, CEO of SNOC, said: "This collaboration marks a significant step forward for SNOC, creating a platform to pursue practical, value-driven opportunities across the gas liquids value chain. By combining our strengths, expertise and shared ambitions, we aim to enhance energy security, optimise infrastructure utilisation and support the continued development of the UAE's LPG sector. Most importantly, this collaboration will create long-term value for Sharjah, the UAE and the wider energy ecosystem.”

Alex Grant, Equinor Senior Vice President Crude, Products and Liquids Trading, said: “By building a partnership around SNOC's infrastructure position and Equinor’s equity volumes, trading, logistics and broad access to global markets, our two companies are positioned to create value-driven solutions to strengthen security of energy supply to regional and international markets.” -OGN/TradeArabia News Service