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In 2023, Oman LNG delivered 173 cargoes of LNG.
Oman LNG delivered 176 cargoes in 2022, 163 in 2021, 155 in 2020, and 166 in 2019.
According to Oman LNG’s 2024 annual report, out of the 181 LNG cargoes, 126 were Oman LNG cargoes and 55 Qalhat LNG cargoes.
There were 16 spot LNG shipments last year.
In 2024, the company produced 11.98 mtpa of LNG, the highest-ever LNG production in Oman LNG history.
This was achieved with 98.23 percent plant reliability and 93.98 percent utilization.
Oman produced 11.5 mtpa of LNG in 2023, exceeding the enhanced nameplate capacity. This compares to 11.5 mtpa in 2022, 10.6 mtpa in 2021, 10.2 mtpa in 2020, and 10.7 mtpa in 2019.
Net profit at $1.7 billion
Oman LNG’s revenue of $6.5 billion rose from $4.9 billion in 2023, which marked a decrease of 15.5 percent compared to the year before.
Net profit of $1.7 billion also rose from $1.5 billion in 2023.
“With $6.5 billion in revenue, Oman LNG demonstrates financial resilience. Our strategic portfolio optimization balances long-term contracts (91 percent) with spot market agility,” CFO Khamis Al Hashmi said in the report.
Oman LNG currently operates three liquefaction trains at its site in Qalhat near Sur.
It also plans to expand the facility with a new train.
The new train will have a capacity of 3.8 mtpa, boosting Oman’s LNG production to 15.2 mtpa.
In 2023, Oman LNG signed shareholding deals with international companies, including Shell and TotalEnergies.
Besides Oman LNG and Qalhat LNG shareholding agreements, Oman LNG, in which the government of Oman holds 51 percent, also signed a gas supply agreement with state-owned Integrated Gas Company (IGC) to extend the gas supplies beyond 2024.
