Oman LNG and BP Singapore sign gas deal

Oman LNG pens long term gas supply deal with BP Singapore to boost the sultanate's energy sector.

Photo for illustrative purposes only
Photo for illustrative purposes only

Oman LNG and BP Singapore have signed a seven year sales and purchase agreement (SPA) for the supply of liquefied natural gas (LNG) to BP Singapore.

The SPA, a free-on-board contract starting January 2018, will span over a period of seven years lifting 1.1mn tonnes per annum which is equivalent to approximately 18 LNG cargoes annually. Dr Mohammed Al-Rumhy, Minister of Oil and Gas and Chairman of Oman LNG said at the signing, "This new agreement will not only unlock additional reserves but will also sustain our LNG business and expand our LNG business. Oman will continue to be a global preferred destination for sourcing clean energy."

Oman’s government has a controlling stake in Oman LNG, while several other local and international energy firms hold minority stakes including Shell Gas, Total, Korea LNG, Mitsubishi Corporation, Mitsui & Company, Partex Corporation Oman and Itochu.

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