SHARJAH, 20th October, 2026 (WAM) -- Sharjah National Oil Corporation (SNOC) and Equinor ASA, an international energy company based in Norway, have signed a Memorandum of Understanding (MoU) to explore business opportunities across the downstream energy sector.

Under the MoU, the two companies will assess potential cooperation in the storage, infrastructure, logistics, trading, supply and shipping of liquefied petroleum gas (LPG), natural gas liquids (NGLs) and other oil and gas products, together with selected energy transition opportunities and the optimisation of petrochemical storage facilities in the UAE.

Khamis Al Mazrouei, CEO of SNOC, said, "This collaboration marks a significant step forward for SNOC, creating a platform to pursue practical, value-driven opportunities across the gas liquids value chain. By combining our strengths, expertise and shared ambitions, we aim to enhance energy security, optimise infrastructure utilisation and support the continued development of the UAE's LPG sector. Most importantly, this collaboration will create long-term value for Sharjah, the UAE and the wider energy ecosystem."

Alex Grant, Equinor Senior Vice President Crude, Products and Liquids Trading, said, "By building a partnership around SNOC's infrastructure position and Equinor's equity volumes, trading, logistics and broad access to global markets, our two companies are positioned to create value-driven solutions to strengthen security of energy supply to regional and international markets."

As global energy markets place greater emphasis on security, flexibility and resilience, investment in LPG, NGL, storage and trading infrastructure is becoming increasingly important.

Strategic partnerships that combine infrastructure, market access and commercial expertise are expected to play a growing role in shaping the future of the downstream energy sector.

This agreement reflects the shared ambition of SNOC and Equinor to identify commercially attractive opportunities across the downstream value chain while supporting the UAE's long-term energy security, infrastructure development and economic growth agenda. Through a structured evaluation process, the companies will explore areas where their complementary strengths can create sustainable value for customers, shareholders and the wider energy sector.