Oman’s two LNG producers, Oman LNG (OLNG) and Qalhat LNG (QLNG) – both majority-owned by the Sultanate of Oman – entered an integration agreement on 1 September that will see the two companies operate together under the OLNG umbrella.
The move is intended to streamline the industry. According to a statement issued by OLNG, the Sultanate hopes to capitalize on synergies between the two companies to reduce costs and improve profit margins. For example, since the two firms export to nearly identical markets, the move will likely make shipping more efficient. (CONTINUED - 755 WORDS)