Sunday 18 / May / 2025
Muscat: Oman LNG signed an agreement with Vitol Asia Pte. Ltd. to optimise the company’s LNG supply portfolio, marking another significant step in strengthening its global partnerships.
The signing ceremony was held under the auspices of Eng. Salim Nasser Al Aufi, Minister of Energy and Minerals.
The agreement, commencing in 2026, entails optimising up to 0.8 million metric tonnes per annum (MTPA) of liquefied natural gas (LNG) with Vitol on a Delivered Ex-Ship (DES) basis. This collaboration builds upon Oman LNG’s strategic portfolio and leverages the flexibility from its DES commitments, particularly aligning with evolving market demands.
Hamed Mohammed Al Nu’amani, Chief Executive Officer of Oman LNG, commented: “This agreement with Vitol reflects our agility and continuous adaptation to market dynamics. We are pleased to see continued positive market response to Oman’s strategy in gas and LNG. Vitol is a key portfolio trader and a trusted partner, and we are pleased to extend our cooperation through this deal which supports our long-term growth and value delivery.”
On his turn, Mahmoud Abdulsatar Al Balushi, Chief Commercial Officer of Oman LNG, added: “This optimisation agreement with Vitol is a testament to our proactive commercial strategy, enhancing our portfolio's adaptability and responsiveness to global market shifts. It allows us to further capitalise on our established reputation and experience to unlock new value.”
The signing ceremony for the agreement was held in Muscat, reflecting the continued support of the Omani government in advancing the nation's strategic energy objectives.
