Paris-based TotalEnergies and the Oman National Oil Co. (OQ) took a final investment decision (FID) for the Marsa LNG project, reaffirming a long-term partnership between TotalEnergies and the Sultanate of Oman, the companies said on April 22.
Along with becoming the first LNG bunkering hub in the Middle East, Marsa LNG plans to be fully electrically driven with a greenhouse gas intensity below 3 kg CO2e/boe.
Marsa LNG is expected to start production by first-quarter 2028 with TotalEnergies holding 80% interest in the project and OQ holding 20%.
The project includes 150 MMcf/d of natural gas, coming from the 33.19% interest held by TotalEnergies and OQ in the Mabrouk North-East Field on onshore Block 10.
The FID allows Marsa LNG to extend its rights in Block 10 until its term in 2050.
The project also integrates a 1 million tonnes per annum capacity LNG liquefaction plant in the port of Sohar, Oman.
A 300-megawatt peak photovoltaic solar plant will be built to cover 100% of the LNG plant’s annual power consumption.
Technip Energies won the engineering, procurement and construction contracts for the LNG plant and CB&I was awarded the EPC for the 165,000-cu. m LNG tank, TotalEnergies said.
“We are especially pleased to deploy the two pillars of our transition strategy, LNG and renewables, and thus support the Sultanate on a new scale in the sustainable development of its energy resources,” said Patrick Pouyanné, chairman and CEO of TotalEnergies.
TotalEnergies, which has operated in Oman since 1937, also signed a sales and purchase agreement with Oman LNG to offtake 800,000 tonnes per annum of LNG for 10 years in 2025.
Recommended Reading
U.S. Shale-catters to IPO Australian Shale Explorer on NYSE
2024-05-04 - Tamboran Resources Corp. is majority owned by Permian wildcatter Bryan Sheffield and chaired by Haynesville and Eagle Ford discovery co-leader Dick Stoneburner.
1Q24 Dividends Declared in the Week of April 29
2024-05-03 - With earnings season in full swing, upstream and midstream companies are declaring quarterly dividends. Here is a selection of dividends announced in the past week.
Analyst Questions Kimmeridge’s Character, Ben Dell Responds
2024-05-02 - The analyst said that “they don’t seem to be particularly good actors.” Ben Dell, Kimmeridge Energy Partners managing partner, told Hart Energy that “our reputation is unparalleled.”
Tellurian Reports Driftwood LNG Progress Amid Low NatGas Production
2024-05-02 - Tellurian’s Driftwood LNG received an extension through 2029 with authorization from the Federal Energy Regulatory Commission and the U.S. Army Corps of Engineers.
Zeta Energy Appoints Michael Everett as COO
2024-05-02 - Prior to joining Zeta Energy, a lithium-sulfur battery developer, Michael Everett previously served as president and COO at Advanced Battery Concepts.