Oman LNG inks shareholding deals with international firms

State-owned producer Oman LNG has signed shareholding deals with international companies, including Shell and TotalEnergies.

Besides Oman LNG and Qalhat LNG shareholding agreements, Oman LNG, in which the government of Oman holds 51 percent, said it had also signed a gas supply agreement with state-owned Integrated Gas Company (IGC) to extend the gas supplies beyond 2024.

“The agreement encapsulates extending the gas supply period for additional 10 years until 2023 at a total volume of 10.4 million metric tonnes per annum, reflecting the company’s drive towards its beyond 2024 aspirations,” it said.

These deals renew Oman LNG’s strategic partnerships with international firms and will contribute to boosting Oman’s revenue from natural gas.

Based on these agreements, Oman LNG’s shareholding structure will continue with Oman Investment Authority, Shell, TotalEnergies, Korea LNG, Mitsui & Co., Mitsubishi, PTTEP, and Itochu.

Qalhat LNG’s shareholding will include Oman Investment Authority, Oman LNG, Itochu, and Mitsubishi, the LNG producer said.

“Such agreements underscore our ever-growing efforts to maximize returns and optimize revenues while sustaining our position in the LNG market,” it said.

Oman LNG did not provide further information regarding the deals.

Oman Investment Authority said in a separate social media post that the deals entail “full ownership transfer of both companies to Oman Investment Authority after the signed shareholders agreements end in 2029 and 2034, respectfully.”

Shell largest buyer

According to Oman LNG’s website, Shell holds a 30 percent stake in the LNG producer, TotalEnergies 5.54 percent, Korea LNG 5 percent, Mitsubishi 2.77 percent, Mitsui 2.77 percent, PTTEP 2 percent, and Itochu holds 0.92 percent.

Shell Gas, a unit of Shell, confirmed the signing of the amended shareholders’ agreement in a separate statement as well.

The firm said it will remain the largest private shareholder in Oman LNG, with a 30 percent shareholding, and continues its role as technical adviser.

These agreements follow Oman LNG’s large marketing campaign aimed at renewing all of its contracts post 2024.

In August, Oman LNG signed deals to supply LNG to OQ Trading and Shell, completing the campaign with a total volumes of 10.4 mtpa.

Following the signing of the deals, Shell will become Oman LNG’s largest off-taker post 2024 and will purchase up to 1.6 mtpa from Oman LNG from 2025 to 2034.

Besides these contracts, Oman LNG signed a deal with German gas importer Securing Energy for Europe (SEFE) and a deal earlier this year with China’s Unipec, a unit of state-owned energy giant Sinopec.

Oman LNG also signed term sheets with Turkey’s Botas and its shareholders TotalEnergies and PTT.

In addition, Oman LNG signed key term sheets in December to supply LNG to Japan’s Jera, Mitsui, and Itochu.

The firm operates three LNG trains in Qalhat with a nameplate capacity of 10.4 mtpa sourcing gas from the central Oman gas field complex.

Due to debottlenecking, the company’s complex now has a production capacity of around 11.4 mtpa.

Most Popular

Woodside terminates Commonwealth LNG SPA

Australian LNG player Woodside has terminated its two LNG sale and purchase agreements with US LNG terminal developer Commonwealth LNG.

Thailand in Alaska LNG talks

Thailand's PTT and Egco will engage in further discussions to potentially participate in the development and buy volumes from the planned Alaska LNG project, according to Thailand's Ministry of Energy.

Energy Transfer seals Lake Charles LNG supply deals

Texas-based Energy Transfer has signed new supply deals for its planned Lake Charles LNG export facility in Louisiana as it works to take a final investment decision by the end of this year, according to its management.

More News Like This

Peru LNG terminal shipped three cargoes in April

Peru LNG’s liquefaction plant at Pampa Melchorita has shipped three liquefied natural gas cargoes in April due to restrictions on the transportation system, according to operator Hunt Oil.

CFO: Shell on track to ship first LNG Canada cargo in middle of 2025

LNG giant Shell remains on track to deliver the first liquefied natural gas cargo from its LNG Canada export terminal in Kitimat in the middle of this year, according to Shell's finance chief, Sinead Gorman.

Shell’s Q1 profit reaches $5.58 billion, LNG sales drop

LNG giant Shell reported a drop in adjusted earnings in the first quarter of 2025, while its LNG sales also decreased compared to the same quarter in 2024.

TotalEnergies targets Mozambique LNG restart by mid-year, CEO says

France's TotalEnergies and its partners in the giant Mozambique LNG project are planning to restart construction on the 12.8 mtpa project by the middle of this year, according to Patrick Pouyanne, CEO of TotalEnergies.