Oman LNG inks pact with Germany’s SEFE
Published: 07:03 PM,Mar 21,2024 | EDITED : 11:03 PM,Mar 21,2024
Officials from Oman and Germany’s SEFE at the agreement signing
MUSCAT: Under the auspices of Eng Salim bin Nasser al Aufi, Minister of Energy and Minerals, Oman LNG inked a Sales and Purchase Agreement (SPA) with SEFE Secure Energy for Europe (SEFE), heralding a new chapter in their continuing partnership.
The agreement follows a prior commitment where Oman LNG inked a binding term sheet agreement to supply SEFE with 0.4 million metric tonnes per annum (mtpa) of LNG starting in 2026. This strategic partnership reflects a significant step forward in bolstering the LNG supply chain, emphasizing Oman LNG's commitment to meeting SEFE's energy needs.
By entering into this SPA, Oman LNG not only reinforces the Sultanate of Oman's reputation as a dependable LNG provider but also demonstrates its adeptness in efficiently managing business operations to deliver secure and sustainable energy to global customers.
Commenting on this agreement, Hamed al Naamany, Chief Executive Officer of Oman LNG- said:
“The agreement marks a pivotal moment for both Oman LNG and SEFE, symbolizing a profound step towards enhanced collaboration. The SPA stands as a testament to the mutual benefits derived from this partnership. For Oman LNG, it signifies access to new markets, technological advancements from Germany, and broader economic growth opportunities. Meanwhile, SEFE gains a reliable and trusted energy supplier, strengthening its position in the European market.”
Furthermore, this strategic partnership with SEFE serves to fortify Oman's ties with Germany, contributing significantly to energy security initiatives; where it opens up new opportunities for Oman LNG in the German market and beyond, underscoring its dedication to fostering growth and collaborative endeavors to enrich Oman's economy.
From his end, Dr Egbert Leage, CEO of SEFE, said: “SEFE is very proud to continue its path of increased cooperation with Oman, and to be the front-runner amongst German companies in importing energy from the country. This partnership diversifies our portfolio and supports our goal to provide Europe with a secure energy supply. We look forward to this being the first of many agreements and also developing a trusting partnership in the hydrogen economy in the medium and long term. The Sultanate of Oman is making an impressive progress with its ambitious hydrogen strategy.”
The agreement follows a prior commitment where Oman LNG inked a binding term sheet agreement to supply SEFE with 0.4 million metric tonnes per annum (mtpa) of LNG starting in 2026. This strategic partnership reflects a significant step forward in bolstering the LNG supply chain, emphasizing Oman LNG's commitment to meeting SEFE's energy needs.
By entering into this SPA, Oman LNG not only reinforces the Sultanate of Oman's reputation as a dependable LNG provider but also demonstrates its adeptness in efficiently managing business operations to deliver secure and sustainable energy to global customers.
Commenting on this agreement, Hamed al Naamany, Chief Executive Officer of Oman LNG- said:
“The agreement marks a pivotal moment for both Oman LNG and SEFE, symbolizing a profound step towards enhanced collaboration. The SPA stands as a testament to the mutual benefits derived from this partnership. For Oman LNG, it signifies access to new markets, technological advancements from Germany, and broader economic growth opportunities. Meanwhile, SEFE gains a reliable and trusted energy supplier, strengthening its position in the European market.”
Furthermore, this strategic partnership with SEFE serves to fortify Oman's ties with Germany, contributing significantly to energy security initiatives; where it opens up new opportunities for Oman LNG in the German market and beyond, underscoring its dedication to fostering growth and collaborative endeavors to enrich Oman's economy.
From his end, Dr Egbert Leage, CEO of SEFE, said: “SEFE is very proud to continue its path of increased cooperation with Oman, and to be the front-runner amongst German companies in importing energy from the country. This partnership diversifies our portfolio and supports our goal to provide Europe with a secure energy supply. We look forward to this being the first of many agreements and also developing a trusting partnership in the hydrogen economy in the medium and long term. The Sultanate of Oman is making an impressive progress with its ambitious hydrogen strategy.”