Photo Credit: WAM
Sharjah National Oil Corporation (SNOC) has signed a Memorandum of Understanding (MoU) with Norway-based energy company Equinor ASA to explore new business opportunities in the downstream energy sector and strengthen energy cooperation in the UAE.
The agreement will see both companies assess potential partnerships in the storage, transportation, logistics, trading, supply and shipping of liquefied petroleum gas (LPG), natural gas liquids (NGLs) and other oil and gas products.
The collaboration will also examine opportunities related to energy transition initiatives and improving the efficiency of petrochemical storage facilities across the UAE.
Partnership Aims to Strengthen UAE Energy Security
Khamis Al Mazrouei, CEO of SNOC, described the agreement as an important step towards expanding the company’s presence in the gas liquids sector.
He said the partnership would bring together the expertise and resources of both organisations to improve infrastructure utilisation, enhance energy security and support the development of the UAE’s LPG industry.
Al Mazrouei also highlighted the potential for the collaboration to generate long-term economic benefits for Sharjah, the UAE and the wider energy sector.
Alex Grant, Senior Vice President of Crude, Products and Liquids Trading at Equinor, said the partnership would combine SNOC’s established infrastructure with Equinor’s trading capabilities, logistics expertise and access to international markets.
He noted that these complementary strengths could help develop commercially valuable solutions while improving the reliability of energy supplies to regional and global markets.
Expanding Opportunities in the Downstream Energy Sector
The agreement comes as global energy markets increasingly focus on supply security, operational flexibility and stronger infrastructure.
Investment in LPG and NGL facilities, storage capacity and energy trading networks is becoming more important as companies seek to improve supply chain efficiency and respond to changing market conditions.
Through the MoU, SNOC and Equinor will evaluate potential commercial opportunities across the downstream value chain, including infrastructure optimisation and international energy trading.
Both companies aim to identify projects that can deliver sustainable economic value while supporting the UAE’s long-term energy security, infrastructure development and economic growth objectives.
The partnership also highlights the growing importance of international cooperation in strengthening the UAE’s position within regional and global energy markets.
