Asyad Shipping welcomes Oman-Spain pacts

MUSCAT, NOV 6
Asyad Shipping Company SAOG has welcomed this week’s signings of four strategic Memoranda of Understanding (MoUs) between the Sultanate of Oman and the Kingdom of Spain, aimed at strengthening bilateral cooperation across key sectors including liquefied natural gas (LNG) and green methanol.
“The MoUs, signed during the state visit of His Majesty Sultan Haitham bin Tarik to Spain, mark a significant milestone in Oman’s efforts to expand its energy and sustainability footprint globally,” the publicly traded company said in a filing to the Muscat Stock Exchange (MSX) on Thursday.
“The MoUs signed between Oman LNG and Naturgy, the Spanish energy company, holds particular significance for Asyad Shipping. It outlines a preliminary plan for a long-term agreement for the sale and purchase of liquefied natural gas (LNG), highlighting promising prospects for growth in the gas shipping sector. This development stands to benefit both countries, enhance Oman’s maritime capabilities, and support the rising demand for LNG in European markets. With a focus on expanding its gas shipping capabilities, Asyad Shipping is well-positioned to leverage these developments, aligning fleet growth with emerging trade flows and reinforcing connectivity between Oman and Europe,” the majority state-owned shipping line – part of Asyad Group - noted.