APRIL 16, 2024

Oman LNG signs sales and purchase pact with a Japanese firm

MUSCAT: Oman LNG, made a significant announcement yesterday regarding the signing of a crucial Sales and Purchase Agreement (SPA) with JERA Co., one of the prominent players in the energy industry in Japan. This milestone agreement solidifies a partnership that is set to enhance the energy landscape for both companies in the coming years.

Under the terms of this groundbreaking agreement, Oman LNG has committed to supplying 0.8 million metric tonnes per annum of LNG to JERA Co. for a duration of 10 years, with deliveries scheduled to commence in 2025. This strategic move not only cements the existing relationship between Oman LNG and JERA but also signifies a significant step towards expanding market access for Oman LNG in Japan, a key market that has been instrumental in driving growth for the Omani LNG sector over the past two decades.

Hamed al Naamany, CEO of Oman LNG, expressed his enthusiasm regarding the newly formed partnership, stating, "This Sales and Purchase Agreement exemplifies the deepening collaboration between Oman LNG and JERA Co, a major LNG importer in Japan. It underscores the trust and confidence that JERA Co. has placed in the quality and reliability of LNG sourced from Oman. Through this agreement, both parties are poised to experience sustainable growth while ensuring a stable and consistent supply of energy to meet the demands of this crucial market."

Beyond the immediate benefits of securing a long-term agreement with a key industry player, this partnership reaffirms Oman LNG's position as a dependable and forward-thinking LNG supplier with a strong commitment to meeting the evolving needs of the global energy market. By adapting to changing market dynamics and embracing sustainable practices, Oman LNG is demonstrating its resilience and flexibility in navigating the complex and ever-evolving energy landscape on a global scale.

Source: Oman Observer