Sharjah National Oil Corporation (SNOC) and Norway’s Equinor announced on 20 October that they had signed a memorandum of understanding to assess downstream energy opportunities. The companies said the review would cover storage, infrastructure, logistics, trading, supply and shipping of liquefied petroleum gas (LPG), natural gas liquids (NGLs) and other oil and gas products.
The parties will also consider selected energy-transition opportunities and optimisation of petrochemical storage facilities in the UAE. SNOC described the memorandum as a framework for exploring commercially attractive options; the announcement set out no final investment, facility or volume commitment. Equinor pointed to the potential to combine its global trading and logistics access with SNOC’s regional infrastructure position.
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