The two companies will jointly explore opportunities in sourcing of liquefied natural gas (LNG), supply and purchase arrangements for India, LNG marketing, investment in upstream activities such as Oil & Gas Exploration, Production & Liquefaction Plants, knowledge sharing, training, joint technology studies, technology workshops and connecting local R&D institutions and universities with each other.
“India is an important emerging LNG market in which we see enormous supply potential as infrastructure is developed. Adani is at the forefront of the LNG industry in India and committed to developing partnerships to support securing reliable long-term supplies of clean energy,” said Woodside CEO and Managing Director Peter Coleman in a media release.
The MoU was signed by Mr Coleman and Adani Chairman Mr Gautam Adani at a ceremony in Gujarat, attended by senior company representatives and The Hon Andrew Robb, Australia’s Minister for Trade and Investment.
“This cooperation arrangement is a landmark and first of its kind between two large organisations of India and Australia sharing common aspirations and vision. This MoU will go a long way in bringing new perspective to addressing the energy issues, enhancing energy trade and further strengthen warm relationships shared by the two countries,” said Mr Adani in a press release.
“We are delighted to have signed this agreement with Adani to further cooperation between our companies and countries. While the breadth of commercial interest between Australia and India is proven, it is up to industry to ensure that the true potential of this relationship is realised,” said Mr Coleman.