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.

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