Vitol to ship 10 LNG cargoes per year from Oman

Trader and shipowner Vitol has struck a deal to ship major volumes of LNG from Oman.

Under the long-term agreement, Oman LNG will supply gas to Vitol on a delivery ex-ship basis.

South Korea’s top three shipyards battle it out for $500m ethane carrier order

Vitol is buying 800,000 tonnes per year from January 2026, equivalent to about 10 cargoes on a standard 174,000-cbm LNG carrier.

The length of the contract has not been revealed.

“This partnership highlights Oman LNG’s strategic role as a key supplier of LNG, and its commitment to contributing to the stability and diversification of global energy supplies,” the partners said.

“For Vitol, this agreement enhances its capacity of meeting the evolving energy requirements of its customers worldwide.”

Article continues below the advert

Speaking at the signing ceremony, Oman LNG chief executive Hamed Al Naamany said: “This agreement with Vitol reflects our agility and continuous adaptation to market dynamics.

“We are pleased to see continued positive market response to Oman’s strategy in gas and LNG. Vitol is a key portfolio trader and a trusted partner, and we are pleased to extend our cooperation through this deal, which supports our long-term growth and value delivery.”

Pablo Galante Escobar, head of LNG at Vitol, said his group has had a decades-long partnership with Oman on crude and oil products.

“The Sultanate of Oman and Oman LNG are critical to ensuring the stable supply of affordable energy to global markets and we are delighted to be working with them,” he added.