Wednesday 15 / May / 2024
Muscat: Sohar Port and Freezone has signed a sub-usufruct agreement with Marsa Liquefied Natural Gas , a joint venture between TotalEnergies EP Oman Development B.V. and OQ, for the development of an LNG liquefaction plant in Sohar Port. This project is set to significantly reduce the industry's carbon footprint, advance Sohar as a forerunner in the global green energy revolution and establish Sohar Port as the first LNG bunkering hub in the region.
The LNG bunkering project boasts a distinct commitment to sustainability as the first of its kind powered by 100% solar electricity, reiterating its status as a beacon of renewable energy innovation. With a total investment of $1.6 billion and an expansive land area spanning 44.5 hectares, this transformative project epitomizes the region’s bold vision for a greener, more sustainable future.
Commenting on this agreement, Sergio Giorgi, Managing Director and Country Chair, Marsa LNG Interim CEO, stated, "At Marsa, we're dedicated to driving impactful changes and embracing sustainable solutions that deliver both environmental and economic dividends. The LNG bunkering project exemplifies our shared dedication to pioneering innovation and sustainability. We're honored to collaborate with Sohar Port on this pioneering initiative that promises to shape the future of our industry."
Ahmed Al Azkawi Chief Executive Upstream at OQ Exploration and Production said, “The signing of the sub-usufruct agreement represents an important milestone for Marsa LNG project, the region’s first LNG bunkering hub. This global collaboration is a testament to our consistent steps and unified goals toward supporting economic growth in the Sultanate of Oman in line with Oman Vision 2040 and the national agenda to achieve carbon-neutrality by 2050. We are confident that Marsa LNG bunkering facility will further solidify Sohar Port's position as a key logistic hub in the region by adding a unique yet important service to the Port’s world-class services. We take this opportunity to thank the Ministry of Energy and Minerals and the Ministry of Transport, Communications and Information Technology for their unwavering support and wise guidance in making this project a reality.”
Emile Hoogsteden, CEO of Sohar Port, further reiterated, "This agreement signifies a monumental step forward in our commitment to sustainable innovation. This project will undoubtedly increase vessel calls to Sohar Port for bunkering of traditional and alternative fuels, further solidifying our position as a key player in the maritime industry. By harnessing renewable energy and cutting-edge technology, we're leading the charge towards greener, more efficient maritime operations that not only benefit our industry, but underscore our commitment to environmental responsibility.”
The agreement between Sohar Port and Marsa Liquefied Natural Gas represents a strategic step towards achieving Oman's Vision 2040, reinforcing the country's commitment to sustainable development and enhancing the maritime sector. This partnership embodies collaborative efforts to promote innovation, sustainability, and economic growth opportunities for Oman.
