Energy Oman’s OQ unit signs LNG off-take pact with Mexico By Pramod Kumar September 1, 2024, 7:06 AM Oman News Agency OQT will deliver LNG to its customers within the Asia Pacific region, said Wail Al Jamali, CEO of OQT A subsidiary of state-owned OQ Group, Oman’s energy conglomerate, has signed an agreement to offtake liquefied natural gas (LNG) from Mexico for supply to the Asia Pacific region. The Dubai-based OQ Trading (OQT) has entered into a binding heads of agreement with Mexico’s Amigo LNG SA de CV for long-term supply of LNG, targeting the rapidly growing Asian market. “The offtake represents a significant step in the growth of our LNG portfolio, allowing us to deliver LNG to our customers within the Asia Pacific region,” said Wail Al Jamali, CEO of OQT. Amigo LNG is a large-scale 7.8 million tonnes per annum (mtpa) liquefaction and export facility on Mexico’s west coast. Details of the deal were not given. In July, Oman announced plans to build a new LNG facility to expand its natural gas exploration and production. The plant will be built next to the existing Qalhat LNG complex, with an estimated production capacity of 3.8 mtpa. The project is expected to be completed and operational by 2029.
Transport Morocco to invest $4bn in airport expansion Morocco will invest MAD42 billion ($4.1 billion) in airport expansion by 2030, the country’s transport and logistics minister has said. The investment aligns with the strategy to strengthen the country’s airports as a global gateway, Morocco World News reported citing Abdessamad Kayouh. The investments intend to modernise major airports, including Casablanca, Rabat, Tangier, Marrakesh, Fez, […] 3 hours ago
Finance Global trade will grow in 2025 despite tariff threats, says UAE minister Global trade is expected to grow in 2025 despite threats by US President Donald Trump to impose new import tariffs, UAE’s minister of state for foreign trade Thani Al Zeyoudi has said. The momentum in foreign trade and global trade is growing, he told Bloomberg Television at the World Economic Forum in Davos, Switzerland. “Trump is […] 3 hours ago
Banking & Finance Credit and debit card use rises steeply in Turkey Cash could be dethroned as king in Turkey as consumers increasingly turn to plastic when paying for goods and services. But the rise in card usage also comes at a cost, as more Turks fall behind in servicing their debt. Credit and debit card spending reached a total of TL14.87 trillion ($420 billion) in 2024, […] 3 hours ago
Infrastructure Etihad Rail train to link Abu Dhabi and Dubai in 30 minutes Authorities from Abu Dhabi and Dubai formally unveiled plans on Thursday for a high-speed passenger rail link that will reduce travel between the two cities to 30 minutes. Spearheaded by Etihad Rail, the train service will reach speeds of up to 350km/h, and “pass through key strategic destinations and tourist attractions”, an Abu Dhabi media […] 9 hours ago
