Oman’s Sohar Port is set to house a new $1.6 billion liquefied natural gas (LNG) bunkering plant following an agreement between OQ and TotalEnergies. The Marsa Liquefied Natural Gas LLC joint venture will see TotalEnergies providing 80% of the investment and OQ contributing the remaining 20%. This innovative project aims to bolster Oman’s treasury revenues and enhance local value through collaborative investments.
The Marsa LNG project, the first of its kind in the Middle East, is powered entirely by solar energy and is expected to reduce carbon emissions significantly. Minister of Energy and Minerals Salim Al-Aufi emphasized that the project reflects Oman’s goal of achieving carbon neutrality by 2050. The plant will contribute to OQ’s strategic development of the country’s energy sector and create new job opportunities, while also positioning OQ Trading as a key player in the LNG markets.