Oman’s OQ Trading targets larger, diversified LNG portfolio

Muscat, Oman: OQ Trading (OQT), the international trading subsidiary of Oman’s OQ Group, is looking to expand and diversify its liquefied natural gas (LNG) portfolio, strengthening its presence in international energy markets while building on its established supply agreements in Oman.

Emmanuël Brasseur, incoming Global Head of LNG at OQ Trading, has outlined the company’s ambition to develop a portfolio of approximately 4–5 million tonnes per annum (mtpa). However, the expansion strategy will focus on commercial value, supply flexibility and geographical diversification rather than increasing trading volumes alone.

Speaking in an interview with Platts, part of S&P Global Energy, Brasseur highlighted OQT’s decade-long experience in LNG trading and its established capabilities in international oil markets as important foundations for future growth.

Oman will remain a central component of the company’s expansion plans. OQT currently holds a four-year agreement to purchase 750,000 tonnes of LNG annually from Oman LNG’s Qalhat complex. This arrangement provides a reliable domestic supply base from which the company intends to develop a broader international portfolio.

The company is also exploring opportunities to increase its participation in Omani LNG offtake, particularly if Oman LNG proceeds with its proposed production capacity expansion.

International diversification will form another important element of OQT’s strategy. The company aims to source LNG from three or four projects across different markets, reducing dependence on individual supply locations while improving its ability to respond to changing global demand.

As part of this approach, OQT has secured a 15-year agreement to purchase 600,000 tonnes of LNG annually from the proposed Amigo LNG project in Mexico, with deliveries expected to commence in 2028.

Beyond supply agreements, OQT is considering investments in downstream LNG infrastructure, including floating storage and regasification units (FSRUs). Such investments could help establish new demand in emerging markets by providing the infrastructure required to receive and distribute imported LNG.

Brasseur also acknowledged the challenges facing the global gas industry following disruptions to LNG shipments through the Strait of Hormuz. These developments have raised concerns about supply reliability and could encourage importing countries to place greater emphasis on energy security and diversified sourcing arrangements.

While these uncertainties may accelerate renewable energy adoption in some markets, OQT anticipates that the global LNG market will become increasingly competitive and liquid as additional liquefaction capacity enters operation.

The company therefore sees opportunities not only in securing LNG supplies but also in developing commercial relationships and infrastructure in emerging importing markets.

By combining its established Omani supply base with international sourcing agreements, flexible trading capabilities and potential downstream investments, OQ Trading aims to strengthen its position in the global LNG industry while supporting Oman’s expanding role in international energy trade.

Oman’s OQ Trading targets larger, diversified LNG portfolio - Oman Observer