Press Release
SNOC and RAKGAS Sign Gas Storage Service Agreement
Abu Dhabi, October 2nd, 2023
The leading energy producer in the Emirate of Sharjah, the United Arab Emirates, Sharjah National Oil Corporation (SNOC), and RAKGAS, the leading provider of natural gas within the Emirate of Ras Al Khaimah, UAE, have signed the first Gas Storage Service Agreement during ADIPEC’s energy conferences.
The Agreement will allow RAKGAS to utilize SNOC’s Gas Storage Facility to balance gas supply and demand by managing the fluctuation between high and low demand periods. The agreement will also provide operational flexibility and mitigate supply shortages during emergencies, enhancing planning processes and ensuring maximum utilization of such available infrastructure within the UAE.
Hatem Al Mosa, Chief Executive Officer of SNOC, said: “SNOC has always seen the availability of gas storage infrastructure as a strategic necessity for Sharjah and the UAE to assure an uninterrupted gas supply during seasonal and daily demand changes and to mitigate unexpected changes in gas supply or demand. This gas storage service agreement between SNOC and RAKGAS enhances the utilization of SNOC gas storage infrastructure and serves to achieve more optimal gas supply management for RAKGAS.”
Chris Wood, Chief Executive Officer of RAKGAS, said: “This agreement marks a significant step towards ensuring the reliability and sustainability of gas supply across Ras Al Khaimah. Collaborating with SNOC allows us to enhance our operational efficiency and make a meaningful contribution to our Emirate’s energy security.”
ABOUT SNOC
SNOC, established in 2010, is tasked with exploration, production, engineering, construction, operation and maintenance of Sharjah’s energy assets. In addition to the Gas Storage Facilities, SNOC owns and operates three onshore fields, a gas processing complex, two hydrocarbon liquid storage and export terminals and a network of flow lines and production pipelines.
ABOUT RAKGAS
Established in 1984, RAKGAS is a state-owned energy company in Ras Al Khaimah. Transitioning from a gas company to a diverse energy provider, it ensures reliable gas distribution, exploring industrial fuels and gas-to-power solutions. In 2007, RAKGAS expanded to East Africa, demonstrating a global commitment to energy security. Focusing on sustainable energy, the company is pursuing the potential of clean energy sources held within RAK’s geological formations.
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