Omani gas is booming – Atheer electronic newspaper

Omani gas is booming – Atheer electronic newspaper
Omani gas is booming – Atheer electronic newspaper
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Atheer — Atheer’s office in Cairo

A new report by the American Energy Intelligence Network confirmed that the Sultanate of Oman finds itself today in a good position, at a time when it seeks to renegotiate existing long-term LNG supply contracts, which expire between 2024 and 2026.

The report indicated that the high levels of gas production and LNG export last year were met with an expected rise in LNG prices and strong demand, which resulted largely from Russia’s war in Ukraine and then an expected recovery in the Chinese economy.

He pointed out that ten years ago, the future of liquefied natural gas in the Sultanate of Oman was fraught with uncertainty, amid the decline in domestic natural gas production and the rapid rise in demand, but today, the prospects for liquefied natural gas in the Sultanate of Oman appear as bright as ever, and that Following the increase in the country’s gas wealth in recent years.

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He said that new developments such as the Khazzan and Ghazeer gas projects from BP have boosted production by more than 1 billion cubic feet per day, since operations began in 2017 and 2020, respectively, and in 2022, Oman’s gas production reached 4.7 billion cubic feet per day. , compared to 3.2 billion cubic feet per day a decade ago.

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He stated that this helped enable the country to feed the local energy and industry sectors, while supporting the three liquefaction trains run by the Oman LNG company in Qalhat in the east of the country, as the plant’s production capacity was increased by one million tons annually to reach about 11.4 million tons annually from during the work of clearing bottlenecks.

And he quoted the Kpler company for analyzing commodity prices that the gas boom in the Sultanate of Oman did not come at a better time than this for the Sultanate of Oman, as Kpler data indicates that the Sultanate exported a record number of 11.6 million tons / year of liquefied natural gas in 2022, Up from 10.3 million tons/year in 2021, surpassing the previous high of 10.5 million tons/year in 2019.

He pointed out that Asian consumers imported supercooled fuel almost exclusively from the Sultanate of Oman, under long-term supply contracts in 2022, as South Korea bought about 5 million tons annually, and 2.75 million tons / year came from Japan, followed by India and China with 950,000 tons / year. year and 860,000 tons/year, respectively, according to Kepler.

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