OQ Group, TotalEnergies Announces Final Investment Decision to Build $1.6 Billion LNG Bunkering Plant in Oman

OQ Group, TotalEnergies Announces Final Investment Decision to Build $1.6 Billion LNG Bunkering Plant in Oman

OQ, the global integrated energy group, has announced the final investment decision with TotalEnergies for the construction of the Marsa LNG Bunkering project at Sohar Port, at a total cost of USD 1.6 billion, with TotalEnergies contributing 80% and OQ 20% via their incorporated joint venture Marsa Liquefied Natural Gas LLC.

The project integrates an upstream and downstream business segments. The upstream component entails the production of 150 million cubic feet per day of gas from Block 10 which will be subsequently transported through OQGN’s gas network to Sohar Port.

The downstream component involves the construction of an LNG plant with a capacity of 1 million tons per year, along with a renewable energy power plant with a capacity of 300 MW of PV solar power to provide the total annual energy needs of the LNG plant.

The Marsa LNG Bunkering project will achieve two remarkable milestones in the region; a plant with emissions of less than 3 kg of carbon dioxide for every oil equivalent barrel, and building the first-of-its-kind LNG bunkering facility in the Middle East.

The ceremony also witnessed the signing of the Fiscal Protocol among the Government of the Sultanate of Oman represented by the Ministry of Energy and Minerals,