Oman LNG Reports Rise in 2017 Revenue

Oman LNG saw its revenue in 2017 increase year on year due to better efficiencies and lower costs, the company said in its 2017 annual report released March 28.

The company reported a revenue of $2.2bn in 2017, up from the previous year’s figure of $1.9bn. Net income after tax for 2017 was $642mn versus $566mn in 2016. 

A total of 134 LNG cargoes were loaded from Oman LNG’s plant in Sur: 88 for Oman LNG, 4 of which were spot cargoes, and 46 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.

Qalhat LNG reported a revenue of a little over $1bn. Qalhat LNG has three long-term sales and purchase agreements for a total contracted volume of approximately 3.3mn mt/yr.

Oman LNG said that Q4 2017, saw the arrival of early feed gas from the giant Khazzan field which, when fully operational, will fulfil a substantial amount of the country’s ever-growing gas supply needs. Although liquefaction has been on the cards as there is spare capacity, formally Khazzan gas is destined for local demand, such as petrochemical and power-generation projects.