A new strategic partnership between Amigo LNG and OQ Trading will bring Mexico's LNG to the Asian market. The deal will boost economic growth and contribute to energy security in both regions.
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| Amigo LNG, a leading LNG project in Mexico, has secured a long-term offtake agreement with OQ Trading, a major player in the global energy market. The partnership will drive the growth of LNG trade and support the energy transition. Symbolic Image |
Mexico City, August 31, 2024:
Amigo LNG, a subsidiary of LNG Alliance Pte Ltd, has solidified its position as a key player in the global LNG market by signing a binding Heads of Agreement (HOA) with OQ Trading (OQT), the trading arm of Oman's national energy company. This strategic partnership will enable Amigo LNG to supply liquefied natural gas (LNG) from its upcoming facility in Guaymas, Mexico, to the rapidly growing Asian market.
The HOA represents a significant milestone for both companies. For Amigo LNG, it secures a long-term offtake agreement with a reputable and reliable partner, strengthening its position as a trusted supplier of LNG. The partnership also aligns with Amigo LNG's commitment to providing lower-carbon energy solutions and driving the energy transition.
For OQT, the offtake agreement is a strategic move to expand its LNG portfolio and meet the increasing demand for cleaner energy sources in the Asia Pacific region. By partnering with Amigo LNG, OQT gains access to a reliable supply of LNG from a strategically located facility in Mexico.
Amigo LNG is a large-scale liquefaction and export facility being developed on Mexico's west coast. The project is expected to produce 7.8 million tonnes per annum of LNG and is supported by the State of Sonora and the Port of Guaymas. The facility's location provides strategic advantages, including access to abundant natural gas resources and a deep-water port.
The partnership between Amigo LNG and OQT is expected to have a positive impact on both the Mexican and Omani economies. The project will create jobs and stimulate economic activity in the region surrounding Guaymas, while also contributing to Mexico's energy independence. For Oman, the partnership will help to diversify the country's economy and generate revenue from LNG exports.
In conclusion, the HOA between Amigo LNG and OQT marks a significant step forward in the development of the global LNG market. The partnership will enable Amigo LNG to supply LNG to the Asian market, while also benefiting both Mexico and Oman. As the demand for LNG continues to grow, this strategic alliance positions both companies for long-term success.