Oman’s liquefied natural gas company, Oman LGN, has signed a sale and purchase agreement with British energy giant BP, which will see a total of 1 million Metric Tonnes Per Annum of LNG sold by the sultanate to BP over a nine-year period.
According to the Oman News Agency the agreement is Free-on-Board (FOB) and will commence in 2026.
Oman LNG has announced the signing of a Sales and Purchase Agreement with BP to supply 1 million metric tonnes per annum of LNG. Such step sustains our position as a reliable supplier of clean energy worldwide while contributing to the local Gross Domestic Product. pic.twitter.com/EzMwEiOnlH
— Oman LNG (@OmanLNG) November 21, 2023
“The Sale and Purchase Agreement with BP unlocks new opportunities to leverage Oman’s presence in the global energy trade,” explained Hamed Al-Naamany, CEO of Oman LNG. “The expected revenues will not only support the national economy, but also support the energy transition, pragmatically.”
In August, Oman LNG signed a long-term agreement with Germany’s Securing Energy for Europe to supply 0.4 million tonnes of LNG, also starting from 2026.
At the time, the news agency reported that the four-year deal was the sultanate’s first with a German firm and was “considered a remarkable milestone for both countries, thus opening doors for new opportunities in the European markets.”
Earlier this year, the supplier also signed a ten year 800,000 tonnes per annum deal with TotalEnergies starting in 2025, and a nine-year supply agreement with the Petroleum Authority of Thailand starting in 2026.