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 GasLog LNG carrier

US FSRU player Excelerate Energy has purchased a 2007-built steam liquefied natural gas (LNG) carrier from GasLog Partners, a part of Greek LNG shipping firm GasLog, according to brokers.

NextDecade, Bechtel agree $9 billion EPC deals for two Rio Grande LNG trains

US LNG firm NextDecade and compatriot Bechtel have finalized EPC contracts worth $9.09 billion for the construction of the fourth and fifth trains and related infrastructure at the Rio Grande LNG facility in Texas.

Atlantic LNG shipping rates jump to $49,750 per day

Atlantic spot LNG shipping rates rose to $49,750 per day this week, while European prices also jumped compared to the previous week.

More News Like This

Shell’s LNG Canada nears first LNG

LNG giant Shell is nearing the launch of the first liquefaction train at its LNG Canada export terminal in Kitimat.

Shell takes FID on Aphrodite project to supply Trinidad’s Atlantic LNG

A unit of UK-based LNG giant Shell has taken the final investment decision for the development of the Aphrodite gas field to supply Trinidad and Tobago’s Atlantic LNG export plant.

Peru LNG terminal shipped five cargoes in May

Peru LNG’s liquefaction plant at Pampa Melchorita has shipped five liquefied natural gas cargoes in May, two more than in the previous month.

Shell shareholders re-elect CEO Wael Sawan

Wael Sawan will continue to lead London-based LNG giant Shell following shareholder voting at the company's annual general meeting on Tuesday.