PARIS (Agefi-Dow Jones) – Energy producer TotalEnergies announced on Tuesday that it had signed agreements with the Ministry of Energy and Minerals of the Sultanate of Oman to produce liquefied natural gas (LNG).
TotalEnergies has partnered with the local Oman National Oil Company (OQ) to create Marsa LNG, a joint venture specializing in LNG, which will be 80% owned by the French group. The company of the sultanate will own the remaining 20%.
Marsa LNG will hold a 33.19% stake in Block 10, located in the center of the country, to produce natural gas. “TotalEnergies’ production from Block 10 is expected to reach around 24,000 barrels of oil equivalent per day in 2023,” the French group said in a statement. A concession agreement on this block has been initialed with this in mind between TotalEnergies and the ministry.
Marsa LNG will also have to “later” develop a future LNG plant that will be powered by solar electricity, the company said.
TotalEnergies has also signed a contract with the government for the sale of gas from Block 10 for a period of 18 years, “or until the start-up of the Marsa LNG plant”.
-Julien Marion, Agefi-Dow Jones; +33 (0) 1 41 27 47 94; [email protected] ed: VLV
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December 21, 2021 07:34 ET (12:34 GMT)