Oman LNG has signed two binding term-sheet agreements, one with French energy major TotalEnergies and one with Thailand’s PTT Global LNG Company, to supply 1.6 million metric tonnes per annum (mtpa) of LNG starting from 2025, according to Omani state news agency.
The agreement with TotalEnergies will see Oman LNG supplying a total volume of 0.8 mtpa of LNG per year. The contract starts in 2025 and runs for ten years.
Under the agreement with PTT, Oman LNG will deliver the same yearly volume of LNG based on a nine-year contract, starting from 2026.
Omani state news agency writes that the move reflects Oman’s efforts in providing energy to global markets.
It also complements Oman LNG’s strive to renew its contracts for beyond 2024 with a strong interest to leverage partnerships with many global partners. This ensures Oman LNG sustains its position in the global LNG market and contributes to global energy security.
Hamad Muhammed Al Nu’amani , CEO of Oman LNG, said: “Signing the term-sheet agreement with PTT Global LNG Company Limited and Total Energies enhances our efforts to further grow and strengthen our market positions including new business opportunities. Such step complements our mission to add value to the local economy through increasing capacity, and strengthening collaborations with international firms.”
In line with its ambitions, Oman LNG recently also signed long-term agreements with three Japanese companies – Itochu Corporation, JERA and Mitsui & Co – to deliver LNG at a total volume of 2.35 mtpa starting from 2025.
Additionally, last week, the company signed a term sheet with Shell International Trading Middle East FZE for the offtake of 0.8 mtpa of LNG for ten years starting from 2025, marking Shell’s first long-term offtake from Oman.