Energy exporter Oman
The Sultanate of Oman, the largest energy exporter outside OPEC, has become one of the leading global exporters of liquefied natural gas (LNG) due to a rising demand for clean energy sources, according to a report by Oman Observers, a local daily.
In April 2023, Oman’s LNG exports reached a record high of 1.16 million metric tonnes (MT), representing a monthly increase of 0.08 million metric tonnes, the report said.
As per the monthly gas report from the Gas Exporting Countries Forum (GEFC), the top ten LNG exporters in the world include the US, Qatar, Australia, Russia, Malaysia, Indonesia, Algeria, Nigeria, Oman, and Trinidad and Tobago.
According to the report, global LNG exports in April 2023 witnessed a significant year-on-year increase of 6% (1.95 MT), reaching a total of 35.58 MT. Non-GECF countries accounted for the largest share of LNG exports in April 2023, with a market share of 50.2%, up from 47.5% in April 2022. It’s important to note that Oman is not a member of the GECF.
Oman’s emergence as a prominent LNG exporter can be attributed to its advantageous location, ample natural gas reserves, and modern infrastructure. The country has made substantial investments in developing its LNG industry in recent years, aiming to capitalize on the growing demand for clean energy in Asia and Europe.
A key factor contributing to Oman’s success as an LNG exporter is its proximity to major markets such as China, Japan, and South Korea. These countries are among the largest consumers of LNG globally, and Oman’s geographical location enables it to competitively supply LNG to these markets.
Additionally, Oman has focused on expanding its natural gas production capacity through significant investments. The country has discovered several new gas fields, including the Mabrouk field, estimated to hold around 4 trillion cubic feet of gas.