Oman, BP in LNG deal

MUSCAT, January 22, 2018 – Oman LNG has signed a seven-year sales agreement with BP, local and international media reported over the weekend.

BP Singapore will purchase about 18 LNG cargoes per year, or 1.1 million tpy, through a free-on-board contract starting this month, the Time of Oman reported. The financial details of the deal were not specified.

“The new agreement will not only unlock additional reserves but will also sustain our LNG business and expand our LNG business,” Mohammed Al Rumhy, Oman’s minister of oil and gas and the chairman of Oman LNG, told the newspaper. “The revenues from this transaction will benefit Oman’s national economy and boost our gross domestic product and will also boost efforts towards In-Country Value (ICV) and Corporate Social Responsibility (CSR), all of which are significant drivers to the socio-economic fabric of the Sultanate.”

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