Total Energies has signed an amendment to extend its partnership with Oman LNG for 10 years, the French energy giant announced on Thursday. Under the deal, the company will retain its 5.54% stake in the Omani LNG company.
Oman LNG owns two liquefaction trains with capacities of 3.8 million tonnes per year of LNG each at a site located on the northeast coast of Oman. The trains are adjacent to the Qalhat LNG project that has an additional 3.8-million-tonnes-per-year LNG train in which Oman LNG has a stake. Total Energies will retain its interest in the Qalhat LNG project for five years.
Total production from the two projects is 11.4 million tonnes per year of LNG. Oman LNG is majority owned by the government with a 51% stake alongside partners Shell with a 30% stake, TotalEnergies, Korea LNG with a 5% stake, Mitsubishi with a 2.77% stake, Mitsui with a 2.77% stake and Itochu with a 0.9% stake.
Qalhat LNG is also majority owned by the government with a 46.84% stake alongside partners Oman LNG with a 36.8% stake, Naturgy with a 7.36% stake, Itochu with a 3% stake, Mitsubishi with a 3% stake and Osaka Gas with a 3% stake.
TotalEnergies holds a 2.04% stake in Qalhat LNG through its shares in Oman LNG. “This LNG contributes to our supply of Europe and Asian markets, and strengthens our integrated and flexible global portfolio, in line with TotalEnergies’ ambition to increase its LNG production and long-term purchases by 50% by 2030,” said Julien Pouget, senior vice-president of E&P in the Middle East and North Africa of TotalEnergies. In January 2022, TotalEnergies signed a 10-year gas offtake agreement with Oman LNG for 800,000 tonnes per year of LNG from 2025.
Source: The Energy Year