Oman LNG and OQ Sign Strategic Agreement: What It Means for Business Growth and Investment in Oman
Oman LNG has signed a four-year Sale and Purchase Agreement (SPA) with OQ Refineries and Petroleum Industries to supply natural gas liquids (NGLs), beginning in 2026. The agreement was formalized by Hamad bin Mohammed al Numani, CEO of Oman LNG, and Kamil bin Bukhait al Shanfari, CEO of OQ Refineries and Petroleum Industries.
According to the agreement, NGLs produced at Oman LNG’s Qalhat complex in Sur will be transported to OQ’s facilities in Suhar. These natural gas liquids will serve as essential feedstock for the production of fuels, chemicals, and plastics. This supply arrangement is expected to support the growth and operations of Oman’s downstream industries, in line with the strategic goals outlined in Oman Vision 2040.
Special Analysis by Omanet | Navigate Oman’s Market
The Oman LNG and OQ Refineries SPA marks a strategic integration of energy supply chains, bolstering Oman’s downstream sector with steady feedstock for fuels, chemicals, and plastics production. For businesses, this creates opportunities in value-added industrial growth aligned with Oman Vision 2040, while investors should consider the expanding potential in petrochemical and manufacturing sectors driven by this long-term supply stability.
