(MENAFN- KNN India) New Delhi, Oct 1 (KNN) Oil India Limited (OIL) and GAIL (India) Limited (GAIL) on Tuesday signed a Memorandum of Understanding (MoU) to enhance cooperation across the natural gas value chain and facilitate wider access to cleaner energy across the country.

Pankaj Jain, Secretary, Ministry of Petroleum and Natural Gas (MoPNG), described the agreement as a timely initiative aimed at boosting domestic gas availability and strengthening connectivity with demand centres nationwide, underlining that such collaborations are essential for advancing the government's goal of a gas-based economy and supporting India's energy transition.

GAIL's Chairman and Managing Director (CMD), Sandeep Kumar Gupta, said the partnership would expand access to natural gas, reinforce national energy security, and promote cleaner energy usage.

OIL's CMD, Dr. Ranjit Rath, highlighted that the MoU combines OIL's upstream strengths with GAIL's expertise in marketing and distribution infrastructure, enabling faster progress towards a gas-based economy and creating value for stakeholders.

According to the companies, the strategic partnership will facilitate the monetisation of OIL's incremental gas production through GAIL's transmission and marketing network, ensuring reliable supply to demand centres.

(KNN Bureau)

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