ExxonMobil India LNG Limited, an affiliate of ExxonMobil, signed an MoU with Indian Oil Corporation Ltd. (Indian Oil), the largest state-owned oil refining & marketing company in India, further expanding its LNG business initiatives in the country. This initiative focuses on exploring new models of delivering cost-effective natural gas in India where it is most needed to complement traditional pipelines. The MoU builds on the long history of productive cooperation between Indian Oil and ExxonMobil in the LNG space.
“What really matters is how we accelerate India’s access to affordable, cleaner energy,” said Bill Davis, Lead Country Manager, South Asia, ExxonMobil. “We see great potential here, and are delighted to join forces with Indian Oil to unlock lasting value for India,” he added.
Indian Oil is India’s largest state-owned downstream petroleum company by earnings. Its core businesses are refining, transportation and marketing of petroleum products. Over the years, Indian Oil has expanded its role as a leader in downstream gas marketing in India. ExxonMobil has pioneered India’s LNG market and has been delivering natural gas to the country for nearly two decades. ExxonMobil and Indian Oil’s combined capabilities have the potential to create exciting opportunities to fulfil India’s growing demand for cleaner energy by making natural gas more accessible and affordable.
