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TotalEnergies launches the Marsa LNG Project in Oman, signing a Sale and Purchase Agreement with Oman LNG and confirming discussions for a renewable energy portfolio. The project includes an LNG plant, a solar power plant, and aims to be a low carbon intensity LNG facility. TotalEnergies aims to reduce emissions and support Oman's energy transition with a multi-energy strategy.
TotalEnergies avvia il progetto Marsa LNG in Oman, firmando un accordo di vendita e acquisto con Oman LNG e confermando discussioni per un portafoglio di energia rinnovabile. Il progetto include un impianto di LNG, un impianto solare e mira a essere un impianto di LNG a bassa intensità di carbonio. TotalEnergies intende ridurre le emissioni e supportare la transizione energetica dell'Oman con una strategia multi-energetica.
TotalEnergies lanza el proyecto Marsa LNG en Omán, firmando un Acuerdo de Compra y Venta con Omán LNG y confirmando discusiones para un portafolio de energía renovable. El proyecto incluye una planta de LNG, una planta de energía solar y aspira a ser una instalación de LNG de baja intensidad de carbono. TotalEnergies busca reducir las emisiones y apoyar la transición energética de Omán con una estrategia multienergética.
토탈에너지스는 오만에서 마르사 LNG 프로젝트를 시작하여 오만 LNG와 매매 계약을 체결하고 재생 가능 에너지 포트폴리오에 대한 논의를 확정했습니다. 이 프로젝트에는 LNG 공장, 태양광 발전소가 포함되어 있으며 저탄소 강도 LNG 시설을 목표로 합니다. 토탈에너지스는 배출 감소와 오만의 에너지 전환을 다중 에너지 전략으로 지원하고자 합니다.
TotalEnergies lance le projet Marsa LNG en Oman, en signant un accord de vente et d'achat avec Oman LNG et en confirmant les discussions pour un portefeuille d'énergie renouvelable. Le projet comprend une usine de LNG, une centrale solaire et vise à être une installation de LNG à faible intensité carbone. TotalEnergies vise à réduire les émissions et à soutenir la transition énergétique d'Oman avec une stratégie multi-énergies.
TotalEnergies startet das Marsa LNG-Projekt in Oman, indem es einen Kauf- und Verkaufsvertrag mit Oman LNG unterzeichnet und Gespräche über ein Portfolio erneuerbarer Energien bestätigt. Das Projekt umfasst eine LNG-Anlage, eine Solaranlage und zielt darauf ab, eine LNG-Anlage mit niedriger Kohlenstoffintensität zu sein. TotalEnergies beabsichtigt, Emissionen zu reduzieren und den Energiewandel Omans mit einer Multi-Energie-Strategie zu unterstützen.
Positive
TotalEnergies launches the Marsa LNG Project in Oman, securing a Sale and Purchase Agreement with Oman LNG for 0.8 Mtpa of LNG from 2025.
The Marsa LNG project includes an LNG liquefaction plant with a 1 Mt/y capacity, a solar power plant, and gas production from the Mabrouk North-East field.
The project aims to be one of the lowest GHG emissions intensity LNG plants globally, with a reduction of more than 90% in emissions compared to the average LNG plant.
TotalEnergies and OQ are at an advanced stage of discussions to develop a renewable energy portfolio of up to 800 MW, including a 300 MWp solar project.
The Marsa LNG project is expected to create long-term employment opportunities and socio-economic benefits for the Sohar region in Oman.
Negative
None.
Insights
The Final Investment Decision (FID) for the Marsa LNG project carries strategic significance. It secures TotalEnergies' presence in the LNG market and strengthens its integration across the value chain, from upstream gas production to LNG liquefaction and ultimately providing an LNG bunkering solution. The project's alignment with greenhouse gas (GHG) emission reduction goals through the use of 100% renewable power is particularly notable. It marks a shift towards cleaner energy practices in the industry, potentially setting a new benchmark for emissions intensity in LNG plants. This foresight may give TotalEnergies a competitive edge in a market increasingly sensitive to environmental impact. The long-term off-take agreement with Oman LNG ensures a stable revenue stream, reinforcing TotalEnergies' position within the global LNG market rankings. Investors should monitor the project's progress and the broader implications for the LNG market's supply dynamics and pricing.
TotalEnergies' investment in a 300 MWp solar project as part of the integrated Marsa LNG project signifies an important precedent for renewable energy integration within the oil and gas sector. The solar plant is anticipated to offset the annual power consumption of the Marsa LNG plant, positioning it as a low-carbon energy source. This demonstrates a strategic move towards sustainable operations and can be seen as aligning with global carbon reduction commitments. For investors, this integration could signal long-term cost savings on energy, hedging against volatile fossil fuel prices and potentially providing a more compelling corporate sustainability profile that could attract socially responsible investment.
The environmental implications of the Marsa LNG project are noteworthy. By positioning the new LNG plant to have a GHG intensity below 3 kg CO2e/boe, TotalEnergies is responding to increasingly stringent global environmental standards and consumer demands for cleaner energy. This development could influence policy discussions around the role of natural gas as a transition fuel. Moreover, the LNG produced is intended for marine fuel markets, aligning with international maritime regulations aiming to reduce emissions from shipping. For investors, this may indicate forward-looking compliance with expected regulatory tightening and could represent a reputational advantage in the energy transition narrative.
PARIS--(BUSINESS WIRE)--
Regulatory News:
During a visit in Muscat on April 21st, Patrick Pouyanné, Chairman and CEO of TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) met with His Majesty Sultan Haitham bin Tariq Al Saidand His Excellency Eng. Salim bin Nasser Al Aufi, Minister of Energy & Minerals, to reaffirm the long-term partnership between TotalEnergies and the Sultanate of Oman.
On the occasion of this visit, Patrick Pouyanné and Mr. Mulham Basheer Al Jarf, Chairman of OQ, the Oman National Oil Company, announced the Final Investment Decision (FID) of the Marsa LNG project.
TotalEnergies had signed a Sale and Purchase Agreement (SPA) with Oman LNG to offtake 0.8 Mtpa of LNG for ten years from 2025, making the Company one of the main offtaker of Oman LNG's production.
Finally, TotalEnergies (49%) and OQ Alternative Energy (51%), the national renewable energy champion, have confirmed being at an advanced stage of discussions to jointly develop a portfolio of up to 800 MW, including the 300 MWp solar project that will supply Marsa LNG
Marsa LNG, an innovative integrated project
Through their joint company Marsa Liquefied Natural Gas (“Marsa”), TotalEnergies (80%) and OQ (20%) launch the integrated Marsa LNG project which combines:
upstream gas production: 150 Mcf/d of natural gas, coming from the 33.19% interest held by Marsa in the Mabrouk North-East field on onshore Block 10, which will provide the required feedstock for the LNG plant. Block 10 production started in January 2023 and reached plateau in April 2024. The FID allows Marsa LNG to extend its rights in Block 10 until its term in 2050.
downstream gas liquefaction: a 1 Mt/y capacity LNG liquefaction plant will be built in the port of Sohar. The LNG production is expected to start by first quarter 2028 and is primarily intended to serve the marine fuel market (LNG bunkering) in the Gulf. LNG quantities not sold as bunker fuel will be off-taken by TotalEnergies (80%) and OQ (20%).
renewable power generation: a dedicated 300 MWp PV solar plant will be built to cover 100% of the annual power consumption of the LNG plant, allowing a significant reduction in greenhouse gas emissions.
Setting very low carbon intensity standards for the next generation of LNG plants
The Marsa LNG plant will be 100% electrically driven and supplied with solar power, positioning the site as one of the lowest GHG emissions intensity LNG plants ever built worldwide, with a GHG intensity below 3 kg CO2e/boe. (for reference, the average emission intensity of LNG plants is around 35 kg CO2e/boe - this represents a reduction in emissions of more than 90%).
The main Engineering, Procurement and Construction contracts have been awarded to Technip Energies for the LNG plant and to CB&I for the 165,000 m3 LNG tank.
The Marsa LNG project will generate long-term employment opportunities and significant socio-economic benefits for the city of Sohar and the region.
The first LNG bunkering hub in the Middle East
The ambition of the Marsa LNG project is to serve as the first LNG bunkering hub in the Middle East, showcasing an available and competitive alternative marine fuel to reduce the shipping industry's emissions. Compared to conventional marine fuel, LNG helps to cut:
Greenhouse gas emissions by up to 23%,
Nitrogen oxide emissions by up to 85%.
Sulfur emissions by 99%,
Fine particle emissions by 99%.
“We are proud to open a new chapter in our history in the Sultanate of Oman with the launch of the Marsa LNG project, together with our partner OQ, demonstrating our long-term commitment to the country. We are especially pleased to deploy the two pillars of our transition strategy, LNG and renewables, and thus support the Sultanate on a new scale in the sustainable development of its energy resources”,said Patrick Pouyanné, Chairman and CEO of TotalEnergies. “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.”
***
TotalEnergies in Oman TotalEnergies has been present in Oman since 1937.
In the first quarter 2024, TotalEnergies’ production in Oman was 61 kboe/d. TotalEnergies produces oil in Block 6 (4%), natural gas in Block 10 (26.55% via Marsa LNG LLC) as well as LNG through its participation in the Oman LNG (5.54%)/Qalhat LNG (2.04% via Oman LNG) liquefaction complex with an overall capacity of 11.4 Mtpa. TotalEnergies is currently conducting exploration activities in Block 12 (50%, operator), and is appraising Block 11 (22.5%).
TotalEnergies also contributes to the development of renewables in the country, such as the largest solar photovoltaic system built to provide power for a desalination plant in Oman (17 MWp – 30,000 MWh/y), in a joint-venture with Veolia, which began commercial operation in April 2023.
TotalEnergies, the world’s third largest LNG player
TotalEnergies is the world’s third largest LNG player with a global portfolio of 44 Mt/y in 2023 thanks to its interests in liquefaction plants in all geographies. The Company benefits from an integrated position across the LNG value chain, including production, transportation, access to more than 20 Mt/y of regasification capacity in Europe, trading, and LNG bunkering. TotalEnergies’ ambition is to increase the share of natural gas in its sales mix to close to 50% by 2030, to reduce carbon emissions and eliminate methane emissions associated with the gas value chain, and to work with local partners to promote the transition from coal to natural gas.
TotalEnergies supports the role of LNG in shipping’s energy transition
Marine LNG sharply reduces emissions from ships and significantly improves air quality, in particular when at berth, for the benefit of port cities and communities in coastal areas. Used as a marine fuel, LNG helps to cut greenhouse gas emissions by up to 23% compared to conventional marine fuel and has the potential to reduce emissions significantly more if bio or synthetic LNG is used. As such, marine LNG is a sustainable, affordable and immediately available way of reducing emissions in the shipping sector. TotalEnergies has actively invested in LNG bunkering infrastructure, critical to supporting its shipping customers' adoption of LNG as a marine fuel. The Company currently deploys three LNG bunker vessels: the Gas Agility at the Port of Rotterdam, Netherlands, the Gas Vitality at the Port of Marseille-Fos, France, and the Brassavola at the Port of Singapore.
About TotalEnergies
TotalEnergies is a global integrated energy company that produces and markets energies: oil and biofuels, natural gas and green gases, renewables and electricity. Our more than 100,000 employees are committed to provide as many people as possible with energy that is more reliable, more affordable and more sustainable. Active in about 120 countries, TotalEnergies places sustainability at the heart of its strategy, its projects and its operations.
Cautionary Note
The terms “TotalEnergies”, “TotalEnergies company” or “Company” in this document are used to designate TotalEnergies SE and the consolidated entities that are directly or indirectly controlled by TotalEnergies SE. Likewise, the words “we”, “us” and “our” may also be used to refer to these entities or to their employees. The entities in which TotalEnergies SE directly or indirectly owns a shareholding are separate legal entities. This document may contain forward-looking information and statements that are based on a number of economic data and assumptions made in a given economic, competitive and regulatory environment. They may prove to be inaccurate in the future and are subject to a number of risk factors. Neither TotalEnergies SE nor any of its subsidiaries assumes any obligation to update publicly any forward-looking information or statement, objectives or trends contained in this document whether as a result of new information, future events or otherwise. Information concerning risk factors, that may affect TotalEnergies’ financial results or activities is provided in the most recent Universal Registration Document, the French-language version of which is filed by TotalEnergies SE with the French securities regulator Autorité des Marchés Financiers (AMF), and in the Form 20-F filed with the United States Securities and Exchange Commission (SEC).
What is the Marsa LNG Project launched by TotalEnergies in Oman?
The Marsa LNG Project is an integrated project in Oman that includes an LNG liquefaction plant, a solar power plant, and gas production from the Mabrouk North-East field, aiming to be a low carbon intensity LNG facility.
What is the Sale and Purchase Agreement signed by TotalEnergies in relation to the Marsa LNG Project?
TotalEnergies signed a Sale and Purchase Agreement with Oman LNG for 0.8 Mtpa of LNG from 2025 as part of the Marsa LNG Project.
What is the renewable energy portfolio being discussed by TotalEnergies and OQ in relation to the Marsa LNG Project?
TotalEnergies and OQ are in discussions to jointly develop a renewable energy portfolio of up to 800 MW, including a 300 MWp solar project, as part of the Marsa LNG Project.
What are the employment opportunities expected to be generated by the Marsa LNG Project?
The Marsa LNG Project is expected to generate long-term employment opportunities and significant socio-economic benefits for the city of Sohar and the region in Oman.
What are the key environmental benefits of the Marsa LNG Project?
The Marsa LNG Project aims to be one of the lowest GHG emissions intensity LNG plants worldwide, with a reduction of more than 90% in emissions compared to the average LNG plant, contributing to sustainable development.
