Oman state media announced the signing of a nine-year sale and purchase agreement (SPA) that will see majority state-owned Oman LNG deliver 1M metric tonnes per annum (mta) of LNG to BP through 2035
Covering supply for nine years, the LNG delivery agreement begins in 2026, according to the Oman News Agency report.
Oman said the agreement builds on prior SPAs taken from the sultanate by BP. Oman’s upstream gas operations are fully government-owned and operated, with the Oman LNG joint venture between majority stakeholder Oman Oil Co and minority stakeholders including Shell, Total and others.
Commenting on the agreement, Oman LNG chief executive Hamed Al Naamany said, “The sale and purchase agreement with BP unlocks new opportunities to leverage Oman’s presence in the global energy trade. The expected revenues will not only support the national economy but also support the energy transition, pragmatically”.
Oman LNG said its market position aims at sustainable energy systems and economic growth.
In early 2023, Oman LNG signed supply agreements with Thai firm PTT Global LNG and French major TotalEnergies to supply a combined 1.6 mta of LNG. The firm signed a binding term sheet with China’s Unipec for 1 mta over four years, supply deals with Japan’s JERA. and sought deals related to LNG and green hydrogen with Shell.
Around the same time, Omani firm Asyad Group contracted South Korean yard Hyundai Samho Heavy Industries to build and deliver two new LNG carriers which will be ready in 2026.
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