Weekly MENA Newsletter will be delivered to your email in PDF format every Friday (52 Issues per Year).
Two years ago, Oman’s LNG sector looked in trouble: output had tumbled from 2007’s record of 9.1mn t/y to just 7.9mn tons in 2015 as concerns over rapidly-rising domestic gas consumption called into question the country’s long-term viability as an LNG exporter ( MEES, 11 November 2016 ).
But since the start-up of the giant BP-operated Khazzan gas field in October 2017 there has been a near-180 degree turnaround in the country’s prospects as an LNG exporter. Talk of importing Iranian gas to keep its 10.4mn t/y of LNG export capacity in business has been consigned to history.
In the wake of Khazzan start-up the country’s gas output edged up to a record 39.1bcm (3.78bn cfd) in 2017. LNG production also edged up, hitting a four-year high of 8.6mn tons according to figures in Oman LNG’s recently-released annual report (Oman’s customers received 8.24mn tons – see chart – implying ‘boil off’ losses of around 4%). (CONTINUED - 1275 WORDS)
DATA INSIDE THIS ARTICLE
|chart||Oman LNG Export Volumes (Mn T) Hit 4-Year High For 2017 But Revenues Remain Less Than Half 2013 Levels|
|chart||Oman's LNG Export Contracts*: The Country's 10.4Mn T/y Capacity Is Fully Committed To 2024 But Contracts Rapidly Expire Beyond This Date (MN T/Y)|
|table||Oman LNG Sales Contracts|