Oman has a tough future as an LNG exporter. Lower prices and growing domestic demand mean volumes and revenues both fell for 2014, and are set to fall further.
Oman’s LNG exports were lower than expected in 2014 amid growing gas shortages in its domestic market. Gas revenues, at OR 1.45bn ($3.8bn) were only slightly down on 2013. However, though Oman’s 2015 budget envisages that gas revenues will be steady this year, lower oil prices mean that this is optimistic – a trend already visible in the latest Korean import statistics. (CONTINUED - 1506 WORDS)
