September 1, 2023 [Mees]- Oman LNG has now secured sales deals for almost all of its capacity from 2025 following an intense 18-month period of dealmaking. State firm OQ’s LNG trading capabilities have been boosted with a four-year deal for 800,000 t/y.
Oman LNG has nearly finalized the task of marketing its output out to the end of the decade. Long-term sales contracts are set to expire between now and 2026, requiring new agreements, while the venture also has an additional 1mn t/y to market from its successful debottlenecking operations.
The firm this week signed two binding term-sheet agreements to supply over 1.5mn t/y to the trading arms of state-firm OQ and Shell, and COO Mahmoud al-Balushi said during the signing ceremony that “today is a special day for us, having completed signing almost all of the volume that has been allocated.” According to the latest agreements, OQ Trading will receive 0.75mn t/y for four years starting in 2026 and Shell International Trading Middle East will receive 0.8mn t/y for 10 years from 2025.
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