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TotalEnergies establishes JV firm, in future LNG bunker fuel investments at Sultanate of Oman

23 Dec 2021

TotalEnergies, the world’s second largest privately owned liquefied natural gas (LNG) player, on Tuesday (21 December) said it has signed agreements for the development of low carbon natural gas projects.

Amongst agreements include the establishment of Marsa LNG, an integrated company between TotalEnergies (80%) and Oman National Oil Company, OQ (20%).

Marsa LNG will produce natural gas from Block 10, with a view to subsequently develop a low-carbon LNG plant in Sohar, powered by solar electricity, for the production of LNG for bunker fuel.

“We are pleased to sign these agreements with the Sultanate of Oman and further develop our activities in the country while contributing to develop its energy sector in a more sustainable manner”, said Laurent Vivier, Senior Vice President Middle East and North Africa, Exploration and Production, at TotalEnergies.

The other agreements, meanwhile, related to a concession agreement for Block 10, to develop and produce natural gas from this block. Marsa LNG will hold a 33.19% interest in Block 10, together with its partners OQ and Shell Integrated Gas Oman B.V. (operator). TotalEnergies’ production from Block 10 is expected to reach approximately 24,000 boe/d in 2023.

A Gas Sales Agreement, under which Marsa LNG will sell natural gas from Block 10 to the Government of Sultanate of Oman, for a duration of 18 years or until the start-up of Marsa LNG plant.


Photo credit: Muhammad Shoaib on Unsplash
Published: 23 December, 2021

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