Business conglomerate Adani Group has signed an agreement with Australian energy major Woodside for sourcing of LNG as well as cooperation in oil and gas exploration and production.
"Adani Enterprises Ltd (AEL), the flagship company of Adani Group, a global infrastructure conglomerate, has signed a Memorandum of Understanding (MoU) with Australian energy major Woodside Energy for cooperation for exploring business opportunities across a broad spectrum in oil and gas sector in India, as part of the Vibrant Gujarat initiative," the company said in a statement here.
The MoU was signed by Adani Group Chairman Gautam Adani Woodside Energy CEO Peter Coleman.
"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 and gas exploration, production and liquefaction plants, knowledge sharing, training, joint technology studies, technology workshops and connecting local R&D institutions and universities with each other," it said.
"This cooperation arrangement is a landmark and the 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 Adani.
Coleman said, "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."
Woodside Energy is Australia's largest independent oil and gas company. It has an extensive portfolio of oil, gas and LNG facilities, including the landmark Australian LNG project - the North West Shelf - one of the world's premier liquefied natural gas (LNG) facilities.
