Sharjah:Sharjah National Oil Corporation (SNOC) and Equinor ASA, a Norwegian-based international energy company, have formalized a Memorandum of Understanding (MoU) to investigate business prospects within the downstream energy sector.
According to Emirates News Agency, the agreement will see the two companies exploring possibilities for collaboration in the storage, infrastructure, logistics, trading, supply, and shipping of liquefied petroleum gas (LPG), natural gas liquids (NGLs), and other oil and gas products. They will also look at selected energy transition opportunities and the optimization of petrochemical storage facilities in the UAE.
Khamis Al Mazrouei, CEO of SNOC, stated that this collaboration represents a significant step forward for SNOC by creating a platform to pursue practical, value-driven opportunities across the gas liquids value chain. The partnership aims to enhance energy security, optimize infrastructure utilization, and support the development of the UAE's LPG sector, ultimately creating long-term value for Sharjah, the UAE, and the broader energy ecosystem.
Alex Grant, Equinor's Senior Vice President of Crude, Products and Liquids Trading, highlighted that the partnership leverages SNOC's infrastructure position and Equinor's global market access to create value-driven solutions and strengthen energy supply security for regional and international markets.
As the global energy markets increasingly focus on security, flexibility, and resilience, investments in LPG, NGL, storage, and trading infrastructure are becoming more critical. Strategic partnerships like this one, which combine infrastructure, market access, and commercial expertise, are expected to play a pivotal role in shaping the future of the downstream energy sector.
The agreement underscores the shared ambition of SNOC and Equinor to identify commercially attractive opportunities across the downstream value chain while supporting the UAE's long-term energy security, infrastructure development, and economic growth agenda. Through a structured evaluation process, the companies aim to explore areas where their complementary strengths can generate sustainable value for customers, shareholders, and the broader energy sector.