Asyad and Oman LNG seal long-term deal for two 5th generation LNG carriers

ASYAD Shipping, a part of Oman’s national logistics provider ASYAD Group, and Oman LNG have signed a long-term agreement for the charter of two 5th generation LNG carriers.

Illustration only; Courtesy of Oman LNG

According to Asyad, the agreement for two 170,000 cubic meter LNG carriers affirms the company’s commitment to boost local added value through partnering with Omani production and export companies, providing integrated logistics solutions.

The deal with Oman LNG comes a year after Asyad ordered the two LNG carriers from South Korea’s Hyundai Samho Heavy Industries. The order placed on December 21, 2022, is worth KRW 650 billion (approximately $505.5 million).

The two vessels are due to be delivered by the end of June 2026. The new 5th generation LNG carriers are intended to bolster Asyad’s expansion plans for energy logistics capabilities and meet increasing global demand.

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On the other hand, Oman LNG is also working to position Oman as a reliable supplier for major global energy players. To this end, the company recently signed a deal with British energy giant BP for the supply of 1 million metric tonnes per annum (mtpa) of LNG.

Prior to this, Oman LNG entered into shareholder agreements with several international companies, including Shell, as part of its strategic roadmap to extend the existing agreements and continue business beyond 2024.

The Omani company also has in place LNG supply deals with Turkish BOTAŞ Petroleum Pipeline Corporation, German Securing Energy for Europe (SEFE), and China International United Petroleum and Chemical Co. (UNIPEC).