ExxonMobil, IndianOil and Chart Industries to Pioneer Virtual Pipeline Initiative

Highlights

* Leading companies innovating with virtual pipelines to accelerate gas access in India
* Focus on designing rapidly scalable mobile infrastructure for deployment
* Strong potential to stimulate localized manufacturing of essential equipment

ExxonMobil India LNG Limited has signed a Letter of Cooperation with Indian Oil Corporation Limited and Chart Energy & Chemicals, Inc., to establish a system of transportation infrastructure to expand gas access in India. Virtual pipeline systems deliver liquefied natural gas by road, rail and waterways to areas not connected by physical pipelines.

This Letter of Cooperation brings together ExxonMobil, IndianOil, India’s largest state-owned oil refining and marketing company, and Chart, a leading global manufacturer of LNG equipment for use throughout the liquid gas supply chain. The parties will implement a gas infrastructure initiative that leverages LNG ISO intermodal containers to move gas as a reliable, cleaner and cost-effective fuel.

The initiative seeks to develop a pilot project and create a roadmap for mobile gas infrastructure expansion at scale, improving access to an abundant and cleaner fuel source.

“India is ready for the benefits of natural gas now,” said Alex Volkov, Chairman, ExxonMobil LNG Market Development Inc. “By linking our global expertise with other leading players, we can create strong and reliable pathways for gas to move quickly and efficiently to where it is needed.”

As a major LNG supplier, ExxonMobil has been working closely with IndianOil to explore innovative supply-chain solutions for enhancing India’s gas access. Chart’s collaboration will accelerate this progress and create new opportunities for localized manufacturing of essential equipment, leveraging Chart’s main India facility in Sri City, Andhra Pradesh.

“We believe this collaboration with ExxonMobil and IndianOil will accelerate India’s ability to offer cleaner energy within its growing cities,” said Jillian Evanko, Chief Executive Officer, Chart Industries, Inc. “We are excited to combine our international experience and local presence in Sri City to design the winning formula alongside two great collaborators.”