Oman LNG inks supply deals with TotalEnergies and PTT

State-owned producer Oman LNG has signed long-term liquefied natural gas supply deals with France’s TotalEnergies and Thailand’s PTT.

Under the first term sheet, Oman LNG would supply 0.8 million metric tonnes per year for a period of 10 years to TotalEnergies, starting in 2025, the Omani state news agency said on Wednesday.

The company would also deliver 0.8 million metric tonnes per year to PTT under the second term sheet for 9 years and these supplies would start in 2026, it said.

Oman LNG confirmed the signing of these deals later on Wednesday.

Both TotalEnergies and PTTEP, a unit of state-owned PTT, are shareholders in Oman LNG with a 5.54 percent stake and a 2 percent stake, respectively.

Six LNG supply deals

These term sheets follow a recent deal Oman LNG signed with its shareholder Shell.

Shell has been a shareholder in Oman LNG with a 30 percent stake since its inception while the government of Oman holds 51 percent in the LNG producer.

Under the term sheet, Oman LNG said it would supply 0.8 million metric tonnes per year for a period of 10 years to a unit of Shell, starting in 2025.

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

The yearly supplies for the three firms total 2.35 mtpa of LNG and would start in 2025 as well.

Prior to these deals, Oman LNG loaded the 3000th cargo in November at its complex in Qalhat, Sur since 2000.

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

Moreover, it mostly supplies LNG under long-term deals with Kogas, BP, Itochu, Osaka Gas, and Naturgy.

Oman’s LNG exports rose 8 percent in the first half of 2022 to 91 cargoes due to debottlenecking and the company’s complex now has a production capacity of around 11.4 mtpa.

The firm delivered in total 163 cargoes or 10.6 mtpa of LNG in 2021.

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