Oman LNG 2018 Output Hits Record

Oman LNG produced a record LNG last year thanks to regular plant maintenance activities – including the successful shutdown of Train 1 and Train 3 – and forward planning, the company said in its 2018 annual report.

The company achieved full production capacity of 10.4mn metric tons compared with 8.6mn mt/year in 2017. The company operates three liquefaction trains with a nameplate capacity of 10.4mn mt/yr.

A record 162 LNG cargoes were loaded from Oman LNG’s plant in Sur: 111 for Oman LNG, 11 of which were spot cargoes, and 51 on behalf of Qalhat LNG, which owns the third LNG production unit at the plant in Qalhat, Sur. The train is operated by Oman LNG on behalf of Qalhat LNG. In 2017, a total of 134 LNG cargoes were loaded. 

Oman LNG’s 2018 revenue was $3.5bn, up 60% year-on-year while net income after tax was $1.07bn, up 68% year-on-year, it said, adding that the increase was due to both improved oil prices and additional gas volumes.

Qalhat LNG reported a revenue of $1.23bn. Qalhat LNG has three long-term sales and purchase agreements for a total contracted volume of about 3.3mn mt/yr. It is 51% owned by Oman state, 30% by Anglo-Dutch Shell, 5.4% by Total, 5% by Kogas, and Japanese and Omani firms own other stakes of under 3%.

The company said Readiness Plan 2018 (RP18) is progressing and on track, with modifications for new gas completed in all three LNG trains.