From the Field

Oman Trading Intl in Bangladesh LNG deal

LONDON, April 24, 2018 – Oman Trading International, majority-owned by Oman Oil Company (70%), has finalised a contract to export 1 million tonnes per year of LNG to Bangladesh, international media reported on Monday.

 

The contract covers 10 years and will be signed “soon,” sources told Reuters.

It marks Bangladesh’s second LNG import deal after its agreement with RasGas (now Qatargas), which is expected to see its initial delivery, totalling 65,000 tonnes, on Tuesday.

Oman Trading International was set up as a joint venture between Oman Oil Company (70%) and Vitol (30%). Vitol’s share was transferred in late 2015 to Oman’s State General Reserve Fund, making the entity 100% state-owned.