Woodside and Adani Ink Agreement

Woodside Petroleum Ltd. (ASX:WPL) announced that it has signed a memorandum of understanding (MOU) with Indian multinational conglomerate Adani Enterprises Ltd. (NSE:ADANIENT) to scout for and develop potential LNG assets.

As quoted in the press release:

Under the terms of the non-binding MoU, Woodside and Adani agree to cooperate in identifying, investigating and developing potential business arrangements and commercial initiatives.

Woodside CEO and MD Peter Coleman stated:

India is an important emerging LNG market in which we see enormous supply potential as infrastructure is developed.

Adani is at the forefront of the LNG industry in India and committed to developing partnerships to support securing reliable long-term supplies of clean energy.

Click here for the full Woodside Petroleum Ltd. (ASX:WPL) press release