IndianOil and Korea Gas Corp. signed a memorandum of understanding agreement for joint participation in exploration and production of gas and oil globally and developing natural gas infrastructure projects and LNG sourcing, according to a news release.

The agreement was signed by A. K. Marchanda, executive director, gas, for IndianOil, and Hyun Kun Shin, executive vice president of Korean Gas’ LNG terminal division, at the Petrotech International Oil & Gas Conference and Exhibition.