Woodside Energy and Adani Enterprises have signed a Memorandum of Understanding (MoU) to cooperate on exploring business opportunities in India.
Both the companies will cooperate in identification, investigation and development of possible business arrangements and commercial initiatives.
Woodside and Adani will jointly explore opportunities in sourcing of liquefied natural gas (LNG), supply and purchase arrangements for India, LNG marketing.
The MoU also includes investment in upstream activities such as oil & gas exploration, production & liquefaction plants.
The companies will seek opportunities on knowledge sharing, training, joint technology studies, technology workshops and connecting local R&D institutions and universities with each other.
Adani Group chairman Gautam Adani said: "This cooperation arrangement is a landmark and first of its kind between two large organisations of India and Australia sharing common aspirations and vision.
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By GlobalData"This MoU will go a long way in bringing new perspective to addressing the energy issues, enhancing energy trade and further strengthen warm relationships shared by the two countries."
Woodside Energy CEO and managing director Peter Coleman said the MoU is a clear demonstration of Woodside’s commitment to the Indian LNG sector and marked a significant milestone in strengthening relations between the two companies.
"India is an important emerging LNG market in which we see enormous supply potential as infrastructure is developed."
Woodside has a portfolio of oil, gas and LNG facilities including the North West Shelf LNG project in Australia.
