Oman LNG signs sale and purchase agreement with BP

Business Tuesday 21/November/2023 18:51 PM
Oman LNG signs sale and purchase agreement with BP

Muscat: Oman LNG announced the signing of Sale and Purchase Agreement (SPA) to deliver a total of 1 million Metric Tonnes Per Annum (MTPA) of LNG from Oman LNG to BP.

The agreement strengthens the robust relationship between Oman LNG and BP, with which the company has previously signed Sale and Purchase Agreements to supply reliable energy from the Sultanate of Oman.

Spanning over 9 years, the agreement is Free-on-Board (FOB) and starts in 2026.

Commenting on this agreement, Hamed Al Naamany, CEO of Oman LNG said: “The Sale and Purchase Agreement with BP unlocks new opportunities to leverage Oman’s presence in the global energy trade. The expected revenues will not only support the national economy but also support other the energy transition, pragmatically”.

Oman LNG is in a shape shifting position that sustains energy systems, fosters economic growth, and secures our position as a reliable energy supplier.

The agreement’s terms are strengthened by the company’s worldwide reputation as a reliable and trusted LNG supplier, where it intends that LNG contributes to global energy security and adds value to the local economy.