The state-owned Oman LNG Company has concluded an agreement with a Japanese company, Jira, to supply 0.8 million metric tons of liquefied gas every year, starting next year, and will continue for 10 years. This was stated by an Omani news agency.

Two agreements were signed last August with Shell International Trading Company in the Middle East and OQ Trading Company. To produce and deliver more than 1.5 million metric tons of liquefied natural gas every year starting in 2025, and last October, Shell concluded an agreement that enables it to purchase 1.6 million tons annually of liquefied gas from the Omani company.

Oman has agreed with Shell and OQ to produce 1.5 million tons of liquefied gas. The agreement signed between them aims to supply quantities of liquefied natural gas from the industrial complex of the Omani company. The International Energy Agency expects that demand for gas will reach its peak in all expected scenarios by the year 2030.

Shell stated that gas consumption has already exceeded its highest levels in some markets, including Europe and Japan, based on its interpretation of Wood Mackenzie data, and the current geopolitical tensions in the Middle East – in conjunction with the Israeli war on the Gaza Strip – threaten the region’s exports. .

JERA is considered the largest importer of liquefied natural gas from the Sultanate of Oman in Japan, and is looking forward to consolidating its position in the Japanese markets, as Japan is considered one of the most prominent destinations for liquefied natural gas from the Sultanate of Oman over the past two decades.

Oman agreed to supply gas to Japan in quantities of up to 2.35 million metric tons annually starting in 2025, and LNG buyers in Asia are looking for alternatives to compensate for potential delays to American projects that were affected by the decision to suspend approval of new licenses for LNG export facilities, which… It gives potential opportunities to competing exporters.

Major importers in China and Japan are reviewing available options with licensed facilities in the United States of America, which is causing concerns about global energy security, due to its importance as a resource.