MUSCAT: Oman Trading International Company (OTI), a subsidiary of Oman Oil Company, on Sunday signed a 10-year sale and purchase agreement (SPA) of liquefied natural gas (LNG) with the Bangladesh-government owned Petrobangla. As per the deal, OTI will supply 1 million metric tonnes per annum after completing the first two terminals for the import of natural gas in Bangladesh. Talal bin Hamad al Oufi, CEO of OTI, said the long-term strategic LNG agreement, is an important milestone in the friendly relations between the Sultanate and Bangladesh.
He hoped that the company will expand its presence in Bangladesh and add other oil products in the future. Under this SPA, OTI will deliver LNG cargoes to Bangladesh from its portfolio of supply. Meanwhile, the State General Reserve Fund, Shell Gas and Power Developments BV (Shell) and EnerTech Holding Company signed an MoU on Sunday to explore opportunities and seek collaboration in the development of various renewable energy projects in Oman and potential select geographies outside Oman.
The MoU was signed at the Ministry of Oil and Gas premises in the presence of Dr Mohammed bin Hamad al Rumhy, Minister of Oil and Gas, Mulham al Jarf, Chief Investment Officer, signed on behalf of State General Reserve Fund (SGRF), while Maartin Wetselaar, Director and Executive Committee Member, signed on behalf of Shell, and EnerTech was represented by Abdullah al Mutairi, CEO. The agreement covers upstream gas exploration and development, gas-to-liquids (GTL), liquefied natural gas (LNG) and renewable energies.
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