- Oman LNG, in collaboration with international companies such as Shell and TotalEnergies, has entered into shareholding agreements. These agreements encompass both Oman LNG and Qalhat LNG, and Oman LNG has also finalized a gas supply agreement with integrated Gas Company (IGC) to extend gas supplies beyond 2024.
- This comprehensive agreement facilitates an extension of the gas supply period for an additional 10 years until 2034, with a total volume of 10.4 million metric tonnes per annum, aligning with the company's aspirations beyond 2024. These arrangements reinforce Oman LNG's strategic partnerships with global firms, bolstering Oman's natural gas revenue. Oman LNG's shareholding structure remains intact, involving Oman Investment Authority, Shell, TotalEnergies, Korea LNG, Mitsui & Co., Mitsubishi, PTTEP, and Itochu.
Why it matters
As a result of these agreements, Shell is set to become Oman LNG's primary off-taker post-2024, with plans to purchase up to 1.6 million metric tonnes annually from Oman LNG from 2025 to 2034. Oman LNG has also signed contracts with German gas importer Securing Energy for Europe (SEFE) and earlier this year with China's Unipec, a subsidiary of the state-owned energy giant Sinopec.
