Oman LNG signed three binding sheet agreements with Japanese firms for the production and delivery of LNG starting from 2025. The total amount of LNG to be delivered is 2.35 million metric tonnes per annum (MTPA).
The new agreements will see Oman LNG supplying LNG based on contracts varying from 5 to 10 years. The amount of LNG to be delivered is: 0.8 MTPA to ITOCHU Corporation, 0.8 MTPA to JERA Co., Inc. and 0.75 MTPA to Mitsui and Co. Ltd.
Eng. Salim Nasser Al Aufi, Minister of Energy and Minerals and Nishimura Yasutoshi, Japanese Minister of Economy, Trade and Industry were present during the signing ceremony.
The agreements were signed by Hamad Al Nu’amani, CEO of Oman LNG, Tetsuya Yamada from ITOCHU Corporation, Hitoshi Nishizawa from JERA Co., Inc. and Motoyasu Nozaki from Mitsui and Co.
Such a step comes as a significant milestone for Oman LNG, as it complements the company’s strive to renew its contracts with a strong interest to leverage partnership with Japan.
Al Aufi said that the agreements were signed after the end of the current contracts. The new contracts take into consideration the notes submitted to the Ministry of Energy and Minerals regarding the previous MoUs and agreements. The notes were submitted by the State Audit Institution (SAI) and the Shura Council.
On his turn, Al Nu’amani pointed out that this move complements Oman LNG’s efforts to further grow, reach international markets and explore new opportunities. It will also leverage the enhanced production and Oman LNG’s nationwide commitment towards diversifying the economy, while ensuring economic growth.