Omani state firm OQ Gas Networks (OQGN) announced on 4 September that it is to float up to 49% of its issued share capital on the Muscat Shock Exchange (MSX), with parent company OQ retaining a 51% majority stake. OQ is in turn wholly owned by the Oman Investment Authority (OIA) which is implementing a multi-billion-dollar privatization initiative.
Formerly known as the Oman Gas Company, OQGN holds a 50-year concession signed in June 2020 with the Oman government to own and operate the country’s 4,031 km gas pipeline network. Under the terms of the concession, OQGN is the sole owner and operator of the gas pipelines, three compressor stations, and 25 gas supply stations. (CONTINUED - 965 WORDS)
