Financial Energy Review
…….by Ben Ndubuwa……
Shell Gas BV (Shell Gas), a subsidiary of Shell plc, and partners in the Oman LNG LLC venture signed an amended shareholders’ agreement for Oman LNG LLC (Oman LNG) extending the business beyond 2024.
Oman LNG in turn signed various agreements to secure its gas supply until 2034. The signing ceremony was held under the patronage of His Excellency Eng. Salim Al Aufi, Oman’s Minister of Energy and Minerals.
Under these agreements, Shell Gas will remain the largest private shareholder in Oman LNG, with a 30% shareholding, and continues its role as technical adviser.
“Shell is proud of its role as the largest private shareholder, off-taker and technical adviser in Oman LNG,” said Zoë Yujnovich, Shell’s Integrated Gas and Upstream Director. “We believe liquefied natural gas’s (LNG) role in the energy system will continue to grow, and this milestone further demonstrates our commitment to our integrated gas business and to Oman as a key heartland to Shell.”
In addition and based on previously signed term sheets, Shell International Trading Middle East FZE will purchase up to 1.6 million tonnes per annum of LNG from Oman LNG from 2025 to 2034, making Shell the largest LNG off-taker from Oman LNG.
