Wednesday, July 24, 2024

SNOC and RAKGas sign contract for gas storage services

Date:

Gas storage agreement between Sharjah National Oil Corporation and RAKGas

Two companies working in energy production in the emirate: Sharjah National Oil Corporation (SNOC) and Ras Al Khaimah Gas Company, a leading supplier of natural gas in Ras Al Khaimah (RAKGas), have signed an agreement for their partial gas storage services. Participation in ADIPEC Week 2023.

The agreement highlights strong energy cooperation in the UAE, with the common goal of providing strategic solutions to the growing energy needs of the country and beyond.

The service agreement effectively addresses the two companies’ efforts to ensure gas supply and efficiently manage seasonal demand.

The CEO of Sharjah National Oil Corporation, Engr. Hatem Al-Mousa,: “SNOC believes that providing gas storage infrastructure to Sharjah and the UAE is a strategic imperative to limit the negative effects of unexpected changes in supply and ensure uninterrupted gas supply during seasonal and daily changes in demand. or gas demand. Service Agreement between SNOC and RAKGas Optimizes gas storage, benefits from SNOC’s gas storage infrastructure, and achieves better management of gas supplies for RAKGas.

Al-Mousa explained that the contract with RAKGas is the first independent contract for commercial gas storage for Sharjah National Oil Corporation, following its continuous efforts to develop gas storage facilities since 2017. Seasons. The first phase is scheduled to be completed in the first quarter of 2024.

For his part, Chris Wood, Chief Executive Officer of Ras Al Khaimah Gas Company, said: “This agreement is an important step towards ensuring and maintaining gas supply to all areas of Ras Al Khaimah. The collaboration with Sharjah National Oil Corporation enables us to improve our operational efficiency and provide energy in Ras Al Khaimah. We are making a significant contribution to resource conservation.”

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The deal will give RAKG an opportunity to improve its capabilities and stabilize its organization to be better prepared to face increasing demand fluctuations in the future.

Sharjah National Oil Corporation and Ras Al Khaimah Gas Company have continued to build a strong relationship and today we have achieved this new relationship in storage facilities that will enhance our capabilities and meet infrastructure needs.

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Wood concluded his speech: “Following the success the UAE has recorded in bringing more investment in manufacturing to the Emirates, we see this type of partnership expanding and growing further.”

Notably, SNOC was established in October 2010 and owns, manages and operates oil and gas assets within the Sharjah Concession in 1978 with Amoco and later with British Petroleum Company BP.

Sharjah’s main gas supplier, SNOC, owns four gas and condensate fields and has a large gas refinery complex in Al Sajah, which has been connected to a network of pipelines supplying gas to the northern emirates since 1983, with two storage and export facilities. Terminals in Hamria area.

SNOC recently signed three concession agreements with Eni and PTTEP, making commercial discovery of gas and condensate in 2020. SNOC is currently implementing a gas storage project as part of its plans to implement other projects, including renewable energy facilities. Studies on Carbon Neutrality and Carbon Dioxide Capture by 2032 Carbon Storage (CCS).

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Nadia Barnett
Nadia Barnett
"Award-winning beer geek. Extreme coffeeaholic. Introvert. Avid travel specialist. Hipster-friendly communicator."

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