Can you tell us about the main features and operations of Oman LNG in Oman?

Oman LNG has been involved in the liquefied natural gas (LNG) business for 22 years in Oman. When significant gas reserves were discovered in Oman, the government had to decide on the best way to utilize them. Ultimately, it was decided that a portion of the gas reserves would be exported in the form of LNG, which was a niche market at the time. Today, we can celebrate the success of that decision as Oman LNG has become a remarkable success story. We have delivered LNG to over 22 countries, including key markets such as Japan and South Korea.

Where are your current export destinations?

We have exported LNG to various destinations, including North America and the farthest port in Japan. We have reached key markets in Europe, Asia, South Korea, India, Kuwait, Turkey, and many others. Our venture was built through a partnership between the government and major international energy companies, some of which are our customers. This partnership has provided significant advantages and synergies, allowing us to drive common winning models. The alignment of all the levers across the gas value chain is essential in creating value. Locally, we have worked hard to build a brand and establish ourselves as a key contributor to the national economy.

How has Oman LNG been able to sustain its operations successfully for 22 years?

At Oman LNG, we prioritize health and safety, performance improvements, and growth initiatives. We have undertaken strategic projects that were carefully tailored and executed to ensure sustainability. Additionally, our highly skilled and knowledgeable workforce has played a crucial role in driving our success. For example, our facility rejuvenation program launched in 2018 aimed to maximize value in light of new gas developments in Oman, and it has already yielded significant results. We have also focused on enhancing our production and environmental performance by implementing projects such as plant debottlenecking, which has improved efficiency and increased our nameplate capacity by 10%. Furthermore, we have invested heavily in nurturing our talents through tailored development programs, resulting in a strong Omanization rate of 92% and growing.

Oman LNG’s first concession will come to an end in 2024. What are the company’s prospects beyond that year?

Oman LNG will continue to operate beyond January 1, 2025. We are committed to being a strong partner for the government and our shareholders, generating value for the national energy grid. We are actively adapting to meet Oman’s needs as a major gas producer and exporter, as well as the changing dynamics of the global energy trade, especially in natural gas. With our highly skilled technical and commercial teams, boasting over 20 years of experience, we are well-equipped to bring the best value to Oman and our shareholders. We are adaptable to meet the global demand for LNG, and our program “Fit for Future” outlines our blueprint for the company’s future. We are fortunate to have several promising factors supporting our success, including our trusted reputation as a reliable source and supplier of LNG, our favorable geographical position, and our recognized geopolitical values. Additionally, our strategic relationship with our shareholders continues to grow stronger.

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