POST Online Media Lite Edition



 

Oman LNG signs liquefied gas deal with BP Singapore

Staff Writer |
Oman LNG, a government-controlled joint venture energy firm, has signed a sales and purchase agreement for the supply of liquefied natural gas (LNG) to BP Singapore, as the sultanate looks to boost its export revenues to support its sagging economy.


The free-on-board (FOB) contract, commencing this month, will span a period of seven years for lifting 1.1 million tonnes per annum (mtpa), equivalent to approximately 18 LNG cargoes annually, Oman LNG said in a statement carried by state-run Oman News Agency.

The contract is a boost to the global LNG market where Oman LNG currently contributes a significant amount, the company said without divulging the financial details of the deal.

“The revenues from this transaction will benefit Oman’s national economy and boost our GDP,” sid Mohammed bin Hamad al-Rumhy, Oman’s minister of oil and gas and chairman of Oman LNG.

“This new agreement will not only unlock additional reserves but will also sustain our LNG business. Oman will continue to be a global preferred destination for sourcing clean energy.”


What to read next

Oman to explore tight gas
John Menzies and Oman Air agree to work on handling joint venture
Petrofac wins $600 million Oman gas project