Home » Oman LNG signs a binding term-sheet agreement with German Company

Oman LNG signs a binding term-sheet agreement with German Company

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MUSCAT, 14th August,2023 (WAM) — Oman LNG announced the signing of a binding term-sheet agreement with SEFE Secure Energy for Europe (SEFE) to supply 0.4 million metric tonnes per annum (mtpa) of LNG starting from 2026, Oman News Agency reported on Monday.

The agreement aims to enhance the ever-growing partnership between Oman LNG and international energy firms, where SEFE has become the latest beneficiary of Omani LNG marking the first LNG term deal with a German firm. The move is considered a remarkable milestone for both countries, thus opening doors for new opportunities in the European markets.

The signed term-sheet agreement encapsulates supplying a total volume of 0.4 million metric tonne per annum of LNG from Oman LNG to SEFE. The agreement is based on a 4-year contract, starting in 2026. Signing term-sheet agreements beyond 2024 emphasises Oman LNG’s role in sustaining the Sultanate of Oman’s reputation as a reliable and trusted LNG supplier, coupled with the effective management of business processes to produce reliable energy, and deliver it to customers around the world safely.

The agreement signing ceremony was held under the auspices of Eng. Salim Nasser al Aufi, Minister of Energy and Minerals. The agreement was signed by Hamed Al Naamany, CEO of Oman LNG, and Frederic Barnaud, Chief Commercial Officer of SEFE.

Mahmoud Abdulsatar Al Balushi, Chief Commercial Officer of Oman LNG, said “The term-sheet signing with SEFE marks another milestone. Going further, the agreement leverages our constant efforts to add value to Oman’s economy through growth and collaborations.

On his turn, Egbert Laege, CEO of SEFE said, “We are delighted to announce the historic contract signing between SEFE and Oman LNG, marking a significant milestone for both entities. As pioneers among German companies to embark on this partnership, SEFE is proud to lead the way towards enhanced collaboration.”

Tariq Al Fahaam

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