Arab energy producer Sharjah National Oil Corp (SNOC), during ADIPEC’s energy conference has signed an agreement with natural gas manufacturer RAKGAS to provide gas storage services, on Tuesday.
SNOC said the joint venture will allow RAKGAS to utilise SNOC’s gas storage facility to balance gas supply and demand by managing the fluctuation between high and low demand periods. Additionally, the company also said the service will give operational flexibility and ease supply shortages during emergencies by ensuring maximum utility of available infrastructure within UAE.
Hatem Al Mosa, CEO of SNOC said, “SNOC has always seen the availability of gas storage infrastructure as a strategic necessity for Sharjah and the UAE to assure an uninterrupted gas supply during seasonal and daily demand changes and to mitigate unexpected changes in gas supply or demand.”
“This gas storage service agreement between SNOC and RAKGAS enhances the utilisation of SNOC gas storage infrastructure and serves to achieve more optimal gas supply management for RAKGAS,” added Al Mosa.
Chris Wood, CEO of RAKGAS said, “This agreement marks a significant step towards ensuring the reliability and sustainability of gas supply across Ras Al Khaimah. Collaborating with SNOC allows us to enhance our operational efficiency and make a meaningful contribution to our Emirate’s energy security.”
SNOC is an oil and gas exploration, production and maintains Sharjah’s energy assets as well as it owns and operates three onshore fields, a gas processing complex, two hydrocarbon liquid storage and export terminals and a network of flow lines and production pipelines.
