Oman LNG inks binding term-sheet deal with German group
OIL AND GAS NEWS
Oman LNG has announced the signing of a binding term-sheet agreement with SEFE Secure Energy for Europe (SEFE) to supply 0.4 million metric tonnes per annum (mtpa) of LNG starting from 2026, reported Oman News Agency.
The agreement aims to enhance the ever-growing partnership between Oman LNG and international energy firms, where SEFE has become the latest beneficiary of Omani LNG marking the first LNG term deal with a German firm.
The move is considered a remarkable milestone for both countries, thus opening doors for new opportunities in the European markets, it stated.
The agreement is based on a four-year contract, starting in 2026. Signing term-sheet agreements beyond 2024 emphasises Oman LNG’s role in sustaining the Sultanate of Oman’s reputation as a reliable and trusted LNG supplier, coupled with the effective management of business processes to produce reliable energy, and deliver it to customers around the world safely.
It was signed by Hamed Al Naamany, CEO of Oman LNG, and Frederic Barnaud, Chief Commercial Officer of SEFE in the presence of Eng. Salim Nasser al Aufi, Minister of Energy and Minerals.
Oman LNG Chief Commercial Officer Mahmoud Abdulsatar Al Balushi pointed out that the term-sheet signing with SEFE marks another milestone.
"Going further, the agreement leverages our constant efforts to add value to Oman’s economy through growth and collaborations," he noted.
SEFE Secure Energy for Europe CEO Egbert Laege said: "We are delighted to announce the historic contract signing between SEFE and Oman LNG, marking a significant milestone for both entities."
"As pioneers among German companies to embark on this partnership, SEFE is proud to lead the way towards enhanced collaboration," he added.
