Oman and Spain signed multiple memoranda of understanding (MoUs), including in the fields of green methanol and liquefied natural gas (LNG).

The Oman LNG Company signed an MoU with the Spanish company Naturgy, aiming to explore and discuss a long-term LNG sale and purchase agreement, which may include the supply of up to one million tonnes annually for 10 years starting from 2030, reported ONA.

Pursuant to the MoU, the two companies will also seek a joint investment in building an LNG carrier in cooperation with Asyad for maritime transport.

They will purchase LNG shipments from Naturgy to continue meeting the needs of the European market and study opportunities for access to European regasification terminals and associated gas pipeline networks to enhance LNG imports and subsequent sales, cooperating in this field to develop global commercial opportunities.

Additionally, the Ministry of Transport, Communications, and Information Technology signed an MoU with an international consortium of companies comprising HIF EMEA, ACCIONA & Nordex Green Hydrogen, and Al MEERA Investment.

This MoU aims to explore and develop a project for producing and supplying ships with low-carbon green methanol in the Dhofar Governorate, enhancing Oman's efforts to achieve carbon neutrality and establishing Dhofar as a leading hub for green fuel and ship bunkering in the Middle East region.

Under this MoU, the two parties will collaborate on assessing the necessary technical, regulatory, and commercial aspects for establishing a major facility to produce green methanol, leveraging renewable energy sources and the advanced infrastructure that characterises Oman.

The consortium will conduct feasibility studies and economic and technical analyses to explore the potential for ship bunkering and exporting the green methanol produced in Dhofar Governorate by integrating solar and wind energy to produce green hydrogen and utilising industrial or biogenic carbon dioxide, subsequently converting it into green methanol.

Meanwhile, the Ministry of Transport, Communications, and Information Technology will facilitate communication with relevant government entities and provide the necessary regulatory support, including land allocation and consideration of incentives for the project.