OIL and MGL Partner to Boost LNG, Clean Energy Collaboration

• OIL and MGL partnered to explore joint opportunities in LNG and clean energy
• Both aim to grow in gas, LNG retail, and renewable sectors
• The collaboration will assess LNG use in transport and industry while promoting low-carbon solutions

Oil India Limited (OIL) and Mahanagar Gas Limited (MGL) have signed a Memorandum of Understanding (MoU) to see if they can work together in liquefied natural gas (LNG) value chain and clean energy.

OIL's Executive Director (Business Development) and MGL's Vice President (Business Development, BIS, Commercial & STU) exchanged the agreement in front of senior officials, including OIL Director (Operations) P. K. Goswami, Director (HR) D. C. Sahoo, and MGL's Managing Director Mahesh V. Iyer.

Oil India Limited, a Maharatna company owned by the Ministry of Petroleum and Natural Gas, is increasing its gas production and clean energy efforts, as a part of its overarching goal of solidifying its participation in India’s energy transition.

The MoU is to strengthen collaboration in LNG, clean energy, and renewable projects supporting India energy goals. The partnership focuses on LNG transport, clean fuel, and low-carbon transport initiatives to advance clean mobility, green energy, and decarbonization in India through expanded LNG infrastructure and sustainable energy solutions.

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At the same time, MGL, a flagship company in city gas distribution, is being involved in the LNG sector via retail LNG stations and is bolstering its attention towards renewable and sustainable forms of energy.

This collaboration will allow both organizations to jointly examine the feasibility and use of LNG in several areas, such as heavy-duty transportation, industrial processes, and others.

An OIL statement stated, "The MoU is expected to facilitate cooperation in developing LNG and clean fuel infrastructure and jointly exploring new opportunities in the energy transition space".

They will also explore collaboration in some form of clean energy, which aligns with their commitment to advance low carbon energy solutions and support India's attainment of a cleaner energy future.