Oman LNG pens supply deal with BP

Oman LNG has signed an agreement with BP for the supply of 1mn tonnes/year of LNG, state-owned Oman News Agency reported on November 21.

The agreement spans over nine years and the delivery starts in 2026. The terms of the agreement are free-on-board (FOB), allowing BP the flexibility to deliver the LNG to various destinations worldwide.

Oman LNG is 51% owned by the Omani government, with 30% held by Shell, 5.54% by TotalEnergies, 5% by Korea LNG, 2.77% each by Japan's Mitsubishi Corporation and Mitsui & Co, 2% by Thailand's PTTEP and 0.92% by Itochu Corporation, according to its website.

Oman LNG recently signed agreements to extend supplies to shareholders including Shell and TotalEnergies for up to 10 years beyond 2024. It has also penned a number of long-term supply deals in recent months. Earlier this year, it signed an agreement with Shell, Thai PTT and France’s TotalEnergies and Botas. In December last year, it signed deals with three Japanese companies: Itochu Corporation, Jera and Mitsui & Co. Oman LNG has also signed a deal with Germany's SEFE.