MUSCAT: Underscoring its expanding global presence as a trader in energy commodities, OT Trading – part of Oman’s integrated global energy group OQ - has signed a binding preliminary agreement for the offtake of liquefied natural gas (LNG) from a new liquefaction plant currently under development at Sonora on Mexico’s Pacific Coast.
An announcement to this effect was made on Friday, August 30, by Amigo LNG, which is building a 7.8 million tonnes per annum (mtpa) LNG plant and export terminal on the west coast of Mexico. Amigo LNG is a subsidiary of Singapore-based LNG Alliance, a development, operations, and asset platform focused on LNG export and import terminal infrastructure.
In a statement, Amigo LNG, located in Guaymas in the Mexico state of Sonora, described the Heads of Agreement (HoA) with OQ Trading as a “key milestone paves the way for long-term supply of LNG targeting the rapidly growing Asian market”.
It quoted Muthu Chezhian, CEO of LNG Alliance Pte Ltd, as saying thus: “Securing the offtake agreement with a leading NOC partner like OQT strengthens our position as a trusted and responsible global energy provider. We are rapidly progressing in the delivery of the strategically located Amigo LNG project, expanding our portfolio of low-carbon energy solutions to drive the energy transition, and remain committed to supporting our customers and partners every step of the way.”
Wail al Jamali, CEO of OQT, added: “We are delighted to sign this HOA with a trusted project developer such as Amigo LNG. The purchase represents a significant step in the growth of our LNG portfolio, enabling us to deliver LNG to our customers in the Asia Pacific region.”
Since its establishment in 2006, OQT has evolved into one of the world’s leading players in the commodities trading industry, trading over 40 million tonnes of energy products each year. Wholly Omani government, OQT operates a network of trading offices in key locations around the world, including Dubai, Houston, London, Rotterdam, Shanghai and Singapore.
Earlier in the week, Amigo LNG signed a long-term LNG agreement covering the supply of 3.6 mtpa of LNG to E&H Energy of Malaysia. Spanning a 20-year timeframe, the agreement comes into effect in Q3 2027.
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