Sharjah National Oil Corporation (SNOC) and Norway’s Equinor have signed a memorandum of understanding to explore joint business in liquefied petroleum gas, natural gas liquids and other downstream activities in the UAE.
Under the agreement, the two companies will assess cooperation in the storage, infrastructure, logistics, trading, supply and shipping of LPG, natural gas liquids and other oil and gas products, the Sharjah government’s Sharjah24 news service reported on Tuesday.
The scope also covers selected energy transition opportunities and the optimization of petrochemical storage facilities in the UAE.
No financial terms were disclosed. The companies said they would evaluate opportunities through a structured process.
“This collaboration marks a significant step for SNOC, providing a platform to pursue practical, value-driven opportunities across the gas liquids value chain,” said Khamis Al Mazrouei, chief executive of SNOC. He said the partnership aimed to optimize infrastructure use and support the development of the UAE’s LPG sector.
Alex Grant, Equinor’s senior vice president for crude, products and liquids trading, said the partnership would build on “SNOC’s infrastructure position and Equinor’s equity volumes, trading, logistics and broad access to global markets.”
SNOC is the state-owned oil and gas company of the emirate of Sharjah.
