Oman LNG and SEFE Secure Energy for Europe (SEFE) have officially signed a Sales and Purchase Agreement (SPA). The signing ceremony was held with the presence of Eng. Salim Nasser Al Aufi, Minister of Energy and Minerals, emphasizing the importance of the agreement.
This agreement builds upon a previous commitment where Oman LNG and SEFE signed a binding term sheet agreement. According to the SPA, Oman LNG will supply SEFE with 0.4 million metric tonnes per annum (mtpa) of LNG starting in 2026. This partnership is a significant milestone in strengthening the LNG supply chain and showcases Oman LNG’s dedication to meeting SEFE’s energy requirements.
Read more: UAE, Oman increasing LNG exports: Official report
By entering into this SPA, Oman LNG not only reinforces the Sultanate of Oman’s reputation as a reliable LNG provider but also demonstrates its expertise in efficiently managing business operations to deliver secure and sustainable energy to customers worldwide.
Oman LNG inked a pivotal Sales and Purchase Agreement with Germany's SEFE Secure Energy for Europe (SEFE). The agreement aims to reinforce Oman's reputation as a dependable energy supplier while fostering broader economic growth opportunities for both companies. pic.twitter.com/pULpRFYz6J
— Oman LNG (@OmanLNG) March 21, 2024
Expanding opportunities for Oman LNG in new markets
Hamed Al Naamany, chief executive officer of Oman LNG, remarked that the agreement represents a significant milestone for both Oman LNG and SEFE, signifying a noteworthy progression towards strengthened collaboration. He highlighted that the SPA serves as evidence of the mutual advantages derived from this partnership. From Oman LNG’s perspective, the agreement signifies the acquisition of access to new markets, technological advancements from Germany, and broader economic growth prospects. Similarly, SEFE benefits by gaining a dependable and reputable energy supplier, which enhances its position in the European market.
Diversifying portfolio, ensuring energy security for Europe
Dr. Egbert Leage, CEO of SEFE, expressed his satisfaction with the ongoing progression of cooperation between SEFE and Oman. He highlighted the pride in being at the forefront among German companies when it comes to importing energy from Oman. Dr. Leage stated that this partnership contributes to the diversification of SEFE’s portfolio and aligns with their objective of providing Europe with a secure energy supply. He expressed anticipation for future agreements and the development of a trustworthy partnership in the hydrogen economy over the medium and long term. Dr. Leage also acknowledged the impressive progress made by the Sultanate of Oman in implementing its ambitious hydrogen strategy.
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