Oman LNG logs lower production, revenue

State-owned producer Oman LNG has reported a decline in production for 2020 as revenue also dropped due to lower prices hit by the Covid-19 pandemic.

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

The government of Oman holds 51% in Oman LNG while energy giant Shell has a 30% stake. Other shareholders include Total (5.54%), Korea LNG (5%), Partex (2%), Mitsubishi (2.77%), Mitsui (2.77%) and Itochu (0.92%).

Oman LNG said in its annual report it had shipped in total 155 cargoes or 10.2 million tonnes of liquefied natural gas last year.

This compares to 166 cargoes or 10.7 million tonnes of LNG the producer has exported in the year before.

Oman LNG said its revenue dropped to $2.5 billion from $3.84 billion a year earlier.

Moreover, net income after tax dropped to $663 million from $1.11 billion in 2019, the producer said.

“The Covid-19 pandemic took the fossil fuel industry by storm. Every arm of our operation was stretched in its capacity to weather the financial fallout without compromising our core values,” Harib Al Kitani, who retired as Oman LNG’s CEO, said.

Worth mentioning here, Shell has recently signed a deal with Oman LNG to ship the first carbon-neutral cargo from the export facility in Qalhat.

The cargo would be the first carbon-neutral LNG from the Middle East, according to the duo.

Most Popular

South Korea’s Posco says first LNG carrier to start ops in H2

Posco International, a unit of South Korean steel producer Posco, plans to start shipping LNG with its first dedicated LNG carrier in the second half of this year.

Canada’s Cedar LNG names FLNG

Canada’s Cedar LNG, a joint venture of Canada’s Pembina Pipeline and the Haisla Nation, has picked a name for its floating LNG facility, which will be located in the traditional territory of the Haisla Nation, on Canada’s West Coast.

Wilhelmshaven LNG jetty ready to welcome Excelerate’s FSRU

Dutch marine contractor Van Oord announced on Monday it had completed the new jetty for its client, state-owned LNG...

More News Like This

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.

Oman LNG inks supply deal with Vitol

State-owned producer Oman LNG has signed a sales and purchase agreement with energy trader Vitol.

Singapore’s FueLNG wraps up 400th STS bunkering operation

Singapore’s FueLNG, a joint venture consisting of Shell and Seatrium, has completed its 400th ship-to-ship (STS) LNG bunkering operation. FuelLNG delivered LNG to BYD Shenzen, which is said to be the world’s largest LNG-fueled car carrier.

Peru LNG terminal shipped three cargoes in April

Peru LNG’s liquefaction plant at Pampa Melchorita has shipped three liquefied natural gas cargoes in April due to restrictions on the transportation system, according to operator Hunt Oil.