Oman LNG and Vitol Sign Long-Term LNG Supply Agreement
- 20-May-2025 10:30 PM
- Journalist: William Faulkner
Oman LNG has signed a long-term Sale and Purchase Agreement (SPA) with Vitol, a global leader in energy and commodities trading. Under the terms of the deal, Oman LNG will supply Vitol with 800,000 metric tons of liquefied natural gas (LNG) per year starting in January 2026. The LNG will be delivered on a Delivered Ex-Ship (DES) Flexible basis, which allows for greater adaptability in meeting global demand.
The agreement underscores Oman LNG鈥檚 commitment to reinforcing its role as a reliable supplier of clean energy to international markets. It also marks a significant milestone in Oman鈥檚 broader energy strategy to diversify its export partnerships and strengthen its presence in the global LNG landscape.
鈥淭his agreement with Vitol reflects our agility and continuous adaptation to market dynamics,鈥 said Hamed Al Naamany, chief executive officer of Oman LNG. 鈥淲e are pleased to see continued positive market response to Oman鈥檚 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.鈥
The partnership builds on Oman鈥檚 long-standing track record as a dependable energy exporter and highlights the nation's efforts to contribute to global energy security while supporting the transition to lower-emission fuels. Oman LNG continues to optimize its production and commercial operations to respond to a dynamic energy market, especially as global demand for LNG increases.
Vitol, which has a decades-long commercial relationship with the Sultanate of Oman in crude oil and refined products, welcomed the expansion of this partnership to include LNG.
鈥淰itol has a decades-long partnership with the Sultanate of Oman on crude and products,鈥 said Pablo Galante Escobar, head of LNG at Vitol. 鈥淚t is an honor to extend this relationship to a term deal with Oman LNG. 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.鈥
The deal reflects Vitol鈥檚 strategy of securing diversified, long-term supply sources to meet the evolving energy needs of its customers across different regions. With this agreement, Vitol will further enhance its LNG portfolio, helping meet increasing demand from Asia, Europe and beyond.
As the global energy landscape continues to shift toward more sustainable and flexible sources, LNG is emerging as a key transitional fuel. Agreements like the one between Oman LNG and Vitol represent a mutual commitment to energy reliability, affordability and environmental responsibility.