Oman signs 10-year LNG supply deal with Shell – The National

Oman signs 10-year LNG supply deal with Shell – The National

Oman LNG has signed a 10-year liquefied natural gas supply agreement with Shell, as the state-owned Omani company optimises its operations to meet global consumer demand.The deal involves up to 1.6 million metric tonnes of LNG a year and will start from next year, the Oman News Agency reported on Wednesday.The supply agreement “contributes to opening new horizons for co-operation in global markets”, said Oman LNG chief executive Hamad Al Numani.The deal also complements the two companies' agreement in October to extend their partnership beyond 2024 as the demand for natural gas continues to grow amid green transition efforts.As part of that amended agreement, Shell Gas, a unit of London-based Shell, remains the largest private shareholder in Oman LNG, with a 30 per cent shareholding. It will continue its role as technical adviser.The new deal “strengthens Oman LNG's reputation as a reliable provider of LNG and its … ability to efficiently manage business operations to provide safe and sustainable energy to customers around the world”, Mr Al Numani said.LNG is vital to the energy strategy of Oman, the second-largest exporter of the commodity in the Middle East after Qatar.Global LNG trade grew by 1.8 per cent to 404 million tonnes