(BRIEF) TotalEnergies has extended its partnership with Oman LNG, a liquefied vegetable fuel (LNG) joint venture, for up to ten years beyond 2024. This extension also covers the adjacent Qalhat LNG project, which has been extended for another five years. As part of the agreement, TotalEnergies and Oman LNG will invest in reducing greenhouse fuel (GHG) emissions from the LNG plant. In addition, in January 2023, TotalEnergies signed an agreement to take 0. 8 million tonnes of LNG from Oman LNG production over a decade. consolidating its position as the main buyer.
(PRESS RELEASE) PARIS, November 2, 2023 — /EuropaWire/ — TotalEnergies (EPA:TTE), a global multi-energy company with more than 100,000 employees and operations in more than 130 countries, as well as the world’s third-largest manufacturer of low-energy energy. Carbon LNG Company, has announced the signing of an agreement to extend its partnership with Oman LNG, a liquefied herbal fuel (LNG) joint venture on the northeast coast of Oman. Under the terms of the agreement, TotalEnergies, which owns a 5. 54% stake in Oman LNG, will increase its stake in the joint venture beyond 2024 for another ten years. In addition, the partnership with Qalhat LNG, an adjacent mission in which Oman LNG has a stake, will continue for a few years. another five years.
One of the key elements of this partnership extension is the commitment to finance investments to reduce greenhouse fuel (GHG) emissions from the LNG plant. This strategy is part of TotalEnergies’ efforts to contribute to environmental sustainability.
In addition, in January 2023, TotalEnergies and Oman LNG signed another agreement, under which TotalEnergies commits to withdraw 0. 8 million tonnes of LNG from Oman LNG production over a ten-year period starting in 2025. This agreement consolidates TotalEnergies’ position as the main Buyer. LNG production from Oman LNG.
Oman’s LNG liquefaction complex is composed of two liquefaction trains with an annual capacity of 3. 8 million tonnes of LNG each, bringing the site’s total production capacity to 11. 4 million tonnes per year. This extension of the partnership underscores TotalEnergies’ commitment to sustainable energy responses and its ongoing collaboration with Oman LNG.
“We are pleased to expand our partnership with Oman LNG. This LNG contributes to our sourcing in the European and Asian markets, and strengthens our embedded and flexible global portfolio, in line with TotalEnergies’ ambition to increase its LNG production and long-term profits. purchases up to 50% by 2030,” said Julien Pouget, executive vice president. President, Middle East & North Africa, Exploration
About Oman LNG Shareholders
Oman LNG is majority owned through the Government of the Sultanate of Oman (51%), with the other shareholders being Shell (30%), TotalEnergies (5. 54%), Korea LNG (5%), PTTEP (2%), Mitsubishi . (2. 77%), Mitsui (2. 77%) and Itochu (0. 9%). Qalhat LNG is also majority owned through the Government of Oman (46. 84%), Oman LNG (36. 8%), Naturgy (7. 36%), Itochu (3%), Mitsubishi (3%) and Osaka Gas (3%). TotalEnergies thus holds an indirect stake in Qalhat LNG (2. 04%) and its stake in Oman LNG.
TotalEnergies, the world’s third-largest LNG operator and Europe’s leading regasification operator
TotalEnergies is the third largest LNG player in the world with a market share of around 12% and a global portfolio of around 50 Mt/year thanks to its holdings in liquefaction plants in all geographical areas. The company has an incorporated position in the entire LNG market. price chain, adding production, transportation, access to more than 20 Mt/year of refueling capacity in Europe, LNG trading and bunkering. TotalEnergies’ ambition is to increase its LNG production and long-term purchases by 50% by 2030, while continuing to reduce carbon emissions and remove methane emissions from the fuel price chain. The Company is also working with local partners on the transition from coal to herbal fuel.
About TotalEnergies
TotalEnergies is a global multi-energy corporation that produces and markets energy: oil and biofuels, vegetable fuels and green fuels, renewable energy and electricity. Our more than 100,000 workers are committed to making energy increasingly affordable, cleaner, more reliable, and more available to all. as many other people as possible. Active in approximately 130 countries, TotalEnergies puts sustainable progress in all its dimensions at the heart of its projects and operations to contribute to the well-being of populations.
TotalEnergies Contacts
SOURCE: TotalEnergies
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