TotalEnergies partners with Oman LNG on Marsa LNG project

TotalEnergies and Oman LNG Partner on Marsa LNG Project in Oman

**Double Play in Asia: TotalEnergies Expands Gas Portfolio in Malaysia and Oman**

Global energy giant TotalEnergies (TTE) is making significant strides in expanding its gas production and supply capabilities in Asia. The company has recently signed two key agreements, one in Malaysia and one in Oman, that position it as a major player in the region’s gas market.

SapuraOMV Acquisition in Malaysia

In Malaysia, TotalEnergies has agreed to acquire the remaining 50% stake in SapuraOMV Upstream Sdn (SapuraOMV) for $530 million. This follows TotalEnergies’ earlier agreement to purchase OMV’s 50% stake in SapuraOMV for $903 million. Upon completion of these transactions, TotalEnergies will own 100% of SapuraOMV, making it a significant gas operator in Malaysia.

SapuraOMV’s primary assets include a 40% operated stake in block SK408 and a 30% operated interest in block SK310, both located in offshore Sarawak. The acquisition aligns with TotalEnergies’ strategy to grow its gas production and focus on low-cost, low-emission assets.

LNG Supply Agreement with Oman LNG

In Oman, TotalEnergies has inked a sale and purchase agreement with Oman LNG to supply 0.8 million tonnes per year of liquefied natural gas (LNG) for ten years from 2025. This agreement further strengthens TotalEnergies’ position in the global LNG market and supports the company’s efforts to meet растущий спрос on gas.

Marsa LNG Project

In addition to the LNG supply agreement, TotalEnergies and Oman LNG also announced the Final Investment Decision (FID) for the Marsa LNG project. This innovative project aims to develop a next-generation, low-emission LNG plant that will use solar energy to power its operations.

TotalEnergies (49%) and OQ Alternative Energy (51%) are exploring the joint development of a 800 MW renewable energy portfolio, including a 300 MWp solar project, to supply the Marsa LNG plant.

TotalEnergies’ Commitment to Gas and Renewables

These agreements demonstrate TotalEnergies’ commitment to expanding its gas production and supply, while also investing in renewable energy sources. The company believes that gas will play a key role in the energy transition as a reliable and affordable fuel source, and that renewable energy is essential for reducing carbon emissions.

Patrick Pouyanné, Chairman and CEO of TotalEnergies, said, “This very innovative project illustrates our pioneer spirit and showcases the relevance of our integrated multi-energy strategy, with the ambition of being a responsible player in the energy transition. By paving the way for the next generation of very low emission LNG plants, Marsa LNG is contributing to making gas a long-term transition energy.”

With these latest agreements, TotalEnergies is well-positioned to become a leading player in the Asian gas market and contribute to the region’s energy security and transition to cleaner energy sources.

By Deepika

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