LNG storage. (Source: Shutterstock)
Shell Plc subsidiary Shell Gas BV signed an amended shareholders agreement with its partners in the Oman LNG LLC joint venture to extend the venture’s business beyond 2024, according to an Oct. 23 press release.
Under the amended agreement terms, Shell Gas BV will remain the largest private shareholder of Oman LNG with 30% and carry on as technical advisor.
The company also stated that Shell International Trading Middle East will repurchase up to 1.6 million tonnes per annum of LNG from Oman LNG from 2025 to 2034, making Shell the largest LNG buyer from Oman LNG.
“We believe liquefied natural gas’s role in the energy system will continue to grow, and this milestone further demonstrates our commitment to our integrated gas business and to Oman as a key heartland to Shell,” said Zoe Yujnovich, Shell’s integrated gas and upstream director.
Oman LNG also signed other agreements to secure its gas supply until 2034, the release stated.
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