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Oman LNG signs 14 new gas supply agreements in 2023

3 Sep 2023 By OUR CORRESPONDENT

Muscat – As part of its ongoing global marketing campaign, Oman LNG Company has signed as many as 14 new binding long-term gas supply agreements since the beginning of this year, according to the company’s CEO.

Oman LNG has succeeded in marketing its LNG supplies beyond 2024 and was able to attract investors from new markets in the Middle East, East Asia, and Europe.

Under these 14 new term-sheet agreements signed with international energy companies from Japan, Thailand, China, Turkey and Germany, Oman LNG is committed to supplying a total of 10.4mn metric tonnes of LNG annually, starting from 2025, Hamed bin Mohammed al Naamany, CEO of Oman LNG, said in a statement to Oman News Agency.

The success of Oman LNG’s marketing campaign is attributed to the production efficiency at the company’s facilities in Sur and investors’ confidence in the company’s operations. Oman LNG operates three liquefaction trains at its site in Qalhat near Sur.

Naamany explained that the new agreements come within the framework of the company’s endeavour to consolidate Oman’s position as a reliable source of energy, increase growth opportunities, benefit from the economic opportunities of global energy markets, and consolidate strategic partnerships with various energy companies.

“These agreements confirm Oman LNG’s commitment to supporting the national economy by finding new markets to supply liquefied natural gas from Oman, and it looks forward to strengthening its relations with the public and private sectors,” he added.

Last week, Oman LNG signed two term-sheet agreements to supply over 1.5mn metric tonnes of LNG annually. The company signed binding term-sheet agreements to supply 0.8mn metric tonnes per year of LNG to Shell International Trading Middle East FZE and 0.75mn metric tonnes per year to OQ Trading.

These new agreements strengthen the strategic partnership between Oman LNG and other international energy firms.

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