Rak Gas signs gas storage pact with Sharjah National Oil Corp
Rak Gas, a provider of natural gas within the Emirate of Ras Al Khaimah, has signed a gas storage agreement with Sharjah National Oil Corporation (SNOC), it said on October 2.
According to the agreement, Rak Gas will utilise SNOC’s gas storage facility to balance gas supply and demand. This will provide operational flexibility and mitigate supply shortages during emergencies, enhance planning processes, and ensure maximum utilisation of such available infrastructure within the UAE, Rak Gas 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,” said SNOC CEO Hatem Al Mosa. “This gas storage service agreement between SNOC and Rak Gas enhances the utilisation of SNOC gas storage infrastructure and serves to achieve more optimal gas supply management for Rak Gas.”
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.
Chris Wood, Chief Executive Officer of RAKGAS, said: “Collaborating with SNOC allows us to enhance our operational efficiency and make a meaningful contribution to our Emirate’s energy security.”