Oman LNG has entered a term sale and purchase agreement (SPA) with Vitol, an energy and commodities company.
Starting from January 2026, Oman LNG will supply 800,000 tonnes per annum (tpa) of liquefied natural gas (LNG) to Vitol on a DES Flexible basis.
Oman LNG chief executive officer Hamed Al Naamany said: “This agreement with Vitol reflects our agility and continuous adaptation to market dynamics. We are pleased to see continued positive market response to Oman’s strategy in gas and LNG.
“Vitol is a key portfolio trader and a trusted partner, and we are pleased to extend our cooperation through this deal, which supports our long-term growth and value delivery.”
The partnership with Oman LNG is evidence of Vitol’s commitment to securing diverse energy sources for its international clientele.
Vitol head of LNG Pablo Galante Escobar added: “Vitol has a decades-long partnership with the Sultanate of Oman on crude and products. It is an honour to extend this relationship to a term deal with Oman LNG.
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By GlobalData“The Sultanate of Oman and Oman LNG are critical to ensuring the stable supply of affordable energy to global markets and we are delighted to be working with them.”
In March, Vitol made a strategic move to expand its portfolio by agreeing to purchase stakes in assets owned by Eni in Cote d’Ivoire and the Republic of Congo.
The deal, valued at $1.65bn (SFr1.38bn) and effective as of 1 January 2024, includes standard cash adjustments upon completion.
Vitol will acquire a 30% participating interest in the Baleine project in Cote d’Ivoire, complementing Eni’s 77.25% stake in the venture.
