Oman LNG has signed a LNG supply deal with UK-based oil and gas major BP, reported Oman News Agency.

Under the terms of the LNG sale and purchase agreement (SPA), Oman LNG will supply 1mtpa of LNG to bp.

Starting in 2026, the LNG will be delivered to the energy company for nine years.

The deal, which builds on earlier SPAs signed between Oman LNG and bp, is structured on a free-on-board basis.

Oman LNG CEO Hamed Al Naamany said: “The sale and purchase agreement with bp unlocks new opportunities to leverage Oman’s presence in the global energy trade. The expected revenues will not only support the national economy but also support other the energy transition, pragmatically.”

In August this year, Oman LNG, a joint venture (JV) majority owned by the Omani Government, signed multiple LNG supply deals with Securing Energy for Europe (SEFE), Shell and OQ Trading.

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By GlobalData

The LNG JV has agreed to supply 0.4mtpa of LNG to SEFE for four years, starting in 2026.

Starting in 2025, Shell International Trading Middle East will receive 0.8mtpa of LNG for a ten-year period.

For a duration of four years, starting in 2026, OQ Trading will get 0.75mtpa of LNG from Oman LNG.

Recently, Oman LNG shareholders TotalEnergies and Shell signed separate agreements to extend their partnership in the JV.

Other participants in the JV include Korea LNG, PTTEP, Mitsubishi, Mitsui and Itochu.