Oman LNG's 2019 Net Income Up 3%

State-owned Oman LNG’S net income after tax last year stood at $1.11bn, up 3% yr/yr, the company said in its 2019 annual report. Revenue was $3.49bn compared with $3.5bn in 2018.

The company’s LNG output last year was 10.7mn metric tons, higher than the nameplate capacity of 10.4mn mt/yr. A record 166 LNG cargoes were loaded from Oman LNG’s plant in Sur: 120 for Oman LNG, and 46 on behalf of Qalhat LNG, which owns the third of the LNG production unit at the plant in Qalhat, Sur. In 2018, 162 cargoes were shipped.

Qalhat LNG reported revenue of $1.29bn. 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%. In September 2013, the management of Qalhat LNG integrated with Oman LNG.