TotalEnergies extends partnership with Oman LNG

Located on the northeast coast of Oman, the Oman LNG liquefaction complex comprises two liquefaction trains, each with a capacity of 3.8 million tpy of LNG. It is adjacent to the Qalhat LNG project, comprising one 3.8 million tpy train, and in which Oman LNG holds a stake. This brings the site's total production to 11.4 million tpy.

Through this agreement, TotalEnergies is extending beyond 2024 its interest in Oman LNG, by ten years, and in Qalhat LNG, by 5 years. The parties agreed to finance investments to reduce the plant’s greenhouse gas (GHG) emissions during this extension. In January 2023, TotalEnergies had also signed an agreement with Oman LNG to offtake 0.8 million tpy of LNG for ten years from 2025, making the company one of the main offtaker of Oman LNG's production.

"We are pleased to extend our partnership with Oman LNG. This LNG contributes to our supply of Europe and Asian markets, and strengthens our integrated and flexible global portfolio, in line with TotalEnergies’ ambition to increase its LNG production and long-term purchases by 50% by 2030," said Julien Pouget, Senior Vice President Middle East & North Africa, Exploration & Production at TotalEnergies.

Oman LNG is majority-owned by the Government of the Sultanate of Oman (51%), the other shareholders being Shell (30%), TotalEnergies (5.54%), Korea LNG (5%), PTTEP (2%), Mitsubishi (2.77%), Mitsui (2.77%) and Itochu (0.9%). Qalhat LNG is also majority-owned by the Government of Oman (46.84%), Oman LNG (36.8%), Naturgy (7.36%), Itochu (3%), Mitsubishi (3%) and Osaka Gas (3%). TotalEnergies therefore holds an indirect interest in Qalhat LNG (2.04%) through its stake in Oman LNG.

Read the article online at: https://www.hydrocarbonengineering.com/gas-processing/02112023/totalenergies-extends-partnership-with-oman-lng/