PRESSR: Sohar Port and Freezone home to the region’s first LNG bunkering project

Suhar – SOHAR Port and Freezone has signed a sub-usufruct agreement with Marsa Liquefied Natural Gas LLC, a joint venture between TotalEnergies EP Oman Development B.V. and OQ, for the development of an LNG liquefaction plant in SOHAR Port. This project is set to significantly reduce the industry's carbon footprint, advance SOHAR as a forerunner in the global green energy revolution and establish SOHAR Port as the first LNG bunkering hub in the region.

The LNG bunkering project boasts a distinct commitment to sustainability as the first of its kind powered by 100% solar electricity, reiterating its status as a beacon of renewable energy innovation. With a total investment of 1.6 billion USD and an expansive land area spanning 44.5 hectares, this transformative project epitomizes the region’s bold vision for a greener, more sustainable future.

Commenting on this agreement, Sergio Giorgi, Managing Director and Country Chair, Marsa LNG LLC Interim CEO, stated, "At Marsa, we're dedicated to driving impactful changes and embracing sustainable solutions that deliver both environmental and economic dividends. The LNG bunkering project exemplifies our shared dedication to pioneering innovation and sustainability. We're honored to collaborate with SOHAR Port on this pioneering initiative that promises to shape the future of our industry."

Ahmed Al Azkawi Chief Executive Upstream at OQ Exploration and Production LLC said, “The signing of the sub-usufruct agreement represents an important milestone for Marsa LNG project, the region’s first LNG bunkering hub. This global collaboration is a testament to our consistent steps and unified goals toward supporting economic growth in the Sultanate of Oman in line with Oman Vision 2040 and the national agenda to achieve carbon-neutrality by 2050. We are confident that Marsa LNG bunkering facility will further solidify Sohar Port's position as a key logistic hub in the region by adding a unique yet important service to the Port’s world-class services. We take this opportunity to thank the Ministry of Energy and Minerals and the Ministry of Transport, Communications and Information Technology for their unwavering support and wise guidance in making this project a reality.”

Emile Hoogsteden, CEO of SOHAR Port, further reiterated, "This agreement signifies a monumental step forward in our commitment to sustainable innovation. This project will undoubtedly increase vessel calls to SOHAR Port for bunkering of traditional and alternative fuels, further solidifying our position as a key player in the maritime industry. By harnessing renewable energy and cutting-edge technology, we're leading the charge towards greener, more efficient maritime operations that not only benefit our industry, but underscore our commitment to environmental responsibility.”

The agreement between SOHAR Port and Marsa Liquefied Natural Gas LLC represents a strategic step towards achieving Oman's Vision 2040, reinforcing the country's commitment to sustainable development and enhancing the maritime sector. This partnership embodies collaborative efforts to promote innovation, sustainability, and economic growth opportunities for Oman.

-Ends-

About SOHAR Port and Freezone

As one of the fastest-growing ports in the world, SOHAR Port and Freezone continues to leverage on its strategic location and enhance its services, positioning itself as a key logistics hub within the region and across the world boasting container, liquids, dry and break-bulk terminals. A powerful combination of the expertise of the Port of Rotterdam and ASYAD Group, it is earmarked as one of the Sultanate’s mega-projects, home to logistics, petrochemicals, and metal clusters, as well as the region’s first dedicated agri terminal. Today, after 20 years of operation, it serves as the main gateway for import and export in Oman, directly contributing 2.1% of the country’s GDP and almost 36,000 direct and indirect employment opportunities. With a focus on sustainable development and cutting-edge technology, it is leading the development and modernization of the Sultanate’s logistics infrastructure and supporting the economic diversification objectives of Oman’s 2040 Vision. For more information about SOHAR Port and Freezone, please visit soharportandfreezone.om.

For media inquires, please contact:

IDENTITY

latest@ouridentity.com

About Marsa

Marsa is a joint venture between TotalEnergies EP Oman Development B.V. and OQ. The company was established in 2019 and aims to become a key player in the exploration and production of hydrocarbons and LNG sectors in Oman. With a strong commitment to safety, sustainability and innovation, Marsa is dedicated to creating long-term value for its stakeholders and contributing towards the development of the Omani economy with the creation of the first LNG bunkering hub in MENA.

© Press Release 2024

Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.

The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.

To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.