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SNOC, Equinor Ink MoU to Explore UAE Downstream Energy Opportunities

Sharjah National Oil Corporation (SNOC) and Norway-based Equinor ASA have signed a Memorandum of Understanding (MoU) to explore potential business opportunities across the UAE’s downstream energy sector, including LPG and natural gas liquids storage, infrastructure, logistics, trading, supply and shipping.

The agreement establishes a framework for the two companies to assess potential cooperation across the gas liquids value chain, with a focus on optimizing existing infrastructure and identifying commercially attractive opportunities in the UAE and international energy markets.

Under the MoU, SNOC and Equinor will evaluate opportunities involving liquefied petroleum gas (LPG), natural gas liquids (NGLs) and other oil and gas products. The scope also includes selected energy transition opportunities and the optimization of petrochemical storage facilities in the UAE.

The collaboration aims to combine SNOC’s infrastructure position with Equinor’s equity volumes, trading capabilities, logistics expertise and access to global markets to develop commercially viable solutions for regional and international energy supply chains.

Khamis Al Mazrouei, CEO of SNOC, said the collaboration would provide a platform to pursue value-driven opportunities across the gas liquids value chain, enhance energy security and improve infrastructure utilization, while supporting the continued development of the UAE’s LPG sector.

Alex Grant, Equinor’s Senior Vice President for Crude, Products and Liquids Trading, highlighted the potential to combine the two companies’ complementary strengths to develop solutions that strengthen the security of energy supplies to regional and international markets.

The agreement comes amid increasing demand for flexible and resilient energy supply chains, with storage, logistics and trading infrastructure playing an important role in supporting downstream energy markets.

Through a structured evaluation process, SNOC and Equinor will assess opportunities to create long-term commercial value while supporting the UAE’s energy security, infrastructure development and economic growth objectives.

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