Oman LNG Export Revenues Set To Smash Annual Record

16 Dec 2022 Issue: 65 / 50 By: Megan Byrne

Oman is on track to export record LNG volumes in a year when prices have gone through the roof. Timing is everything, and even though most volumes are sold under long-term contracts, Oman has been able to divert some spot cargoes into the red-hot European market. By August, 2022’s LNG revenues had already set an annual high.

Oman’s resurgent gas production has revitalized its LNG facilities, which thanks to debottlenecking work are on course to export record volumes this year. The current record stands at 10.7mn tons in 2019, with Oman LNG subsequently reducing output slightly from its three-train facility at Qalhat amid the Covid-19 pandemic. Now, the firm is emerging from debottlenecking work at the facilities which will bring capacity up to 11.4mn t/y, and with work complete on two trains it is on course to smash that 2019 record.

Data intelligence firm Kpler shows that Oman exported 10.5mn tons over the first eleven months of the year, meaning that absent a collapse in December loadings it should push past 10.7mn tons before the end of the year. Indeed, preliminary figures indicate that the mark has already been broken by mid-December. (CONTINUED - 868 WORDS)