Oman boosts LNG exports

Oman has increased its exports of liquefied natural gas (LNG) by 8 percent in the first half of this year, according to data by the country’s energy ministry.

LNG exports reached 5.9 million tonnes or 91 cargoes in January-June, compared to some 5.5 million tonnes in the same period last year, the data said.

State-owned Oman LNG is the country’s only LNG producer.

The government of Oman holds 51 percent in Oman LNG while energy giant Shell has a 30 percent stake. Other shareholders include TotalEnergies, Korea LNG, PTTEP, Mitsubishi, Mitsui, and Itochu.

Omar LNG operates three LNG trains in Qalhat, near Sur with a nameplate capacity of 10.4 million tonnes per year sourcing gas from the central Oman gas field complex.

Capacity boost and revenue increase

Oman LNG said in its 2021 annual report issued last month it had delivered in total 163 cargoes or 10.6 million tonnes of LNG last year.

This compares to 155 cargoes or 10.2 million tonnes in 2020. Oman LNG produced 10.7 million tonnes in 2019.

According to the LNG producer, it completed the debottlenecking scope of two LNG trains during the year, despite the Covid-related delays.

This project added four LNG cargoes to the yearly production last year and Oman LNG plans ten additional cargoes during 2022.

Oman LNG says its production capacity is now around 11.4 million tonnes per year.

The firm mostly supplies LNG under long-term contracts. Spot LNG sales accounted for about 16 percent of the last year’s volumes.

It has contracts with Kogas, BP, Itochu, Osaka Gas, and Naturgy.

Oman LNG said its revenue rose to $3.27 billion last year, compared to $2.5 billion in the year before. It attributed the rise mainly due to higher prices.

The company’s net income after tax increased 40 percent year-on-year to $886 million.

Most Popular

Excelerate buys NFE’s Jamaica business for $1.05 billion

US FSRU player Excelerate Energy has entered into a definitive agreement with compatriot LNG player New Fortress Energy to acquire NFE’s business in Jamaica for $1.055 billion in cash.

Snam’s Ravenna FSRU to get first LNG shipment

Snam's 170,000-cbm FSRU BW Singapore, located off Italy's Ravenna, is set to receive the first LNG cargo from the US as part of its commissioning activities.

Argentina’s Enarsa gets offers for LNG cargo tender

Argentina's state-owned LNG importer Energia Argentina (Enarsa) has received seven offers for its first LNG cargo tender in 2025.

More News Like This

Shell seals LNG deal with India’s IRM Energy

A unit of UK-based LNG giant Shell has signed a five-year deal to supply regasified LNG to India's IRM Energy.

China’s SIPG eyes LNG bunkering vessel order

China’s terminal operator, Shanghai International Port (SIPG), is looking to order one large liquefied natural gas (LNG) bunkering vessel, according to shipbuilding sources.

Shell CEO expects progress on Venture Global arbitration this year

Shell’s CEO Wael Sawan expects to have an update on an arbitration dispute with US LNG exporter Venture Global LNG later this year.

Shell plans to boost LNG sales by up to 5 percent per year

UK-based LNG giant Shell said on Tuesday it aims to reinforce its leadership position in liquefied natural gas by growing sales by 4-5 percent per year through to 2030.