To speed up the transition of India to cleaner energy, a major move has been made with Oil India Limited (OIL) and Mahanagar Gas Limited (MGL) signing a Memorandum of Understanding (MoU) to jointly pursue the Liquefied Natural Gas (LNG) value chain and venture into the emergent clean energy sectors.
The Executive Director (Business Development) of OIL and the Vice President (Business Development, BIS, Commercial and STU) of MGL signed the MoU in the presence of the senior officials, namely, the Director (Operations) of OIL, the Director (HR) of OIL, and the Managing Director of MGL.
It is joint and focused on discussing the mutual business prospects in the LNG field and assessing the technical and commercial viability of LNG in terms of its possible application in heavy-duty transportation, and amplifying the successful pilot projects to the level of full commercial exploitation. It also will pay attention to new clean energy projects which will underline the idea of sustainability and environmental responsibility of both companies growth.
Commenting on the development, Trailukya Borgohain, the Director (Operations) of OIL said, “The collaboration will focus on assessing technical and commercial viability of LNG in the heavy-duty transport segment and on exploring projects in clean energy. Our objective is to take feasible pilots to commercial scale.”
Sharing similar sentiments, Ashu Singhal, the Managing Director of MGL stated, “This collaboration with OIL will help accelerate adoption of cleaner fuels in the long-haul transport sector. It will enable corporates to move towards greener logistics solutions and contribute to reducing the overall pollution footprint.”
It is anticipated that the combination of the powerful upstream OIL capacities in the exploration and production areas and the experience of MGL in the distribution of gas and LNG retail operations will play a significant role in the expansion of the clean energy environment in India and the implementation of the net-zero position of the country.
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