Oman Takes the Lead as the Largest Natural Gas Exporter in the Arab World
- 18-May-2023 4:17 PM
- Journalist: Rene Swann
Muscat: According to a report released by the Organisation of Arab Petroleum Exporting Countries (OAPEC) in Kuwait, the Sultanate of Oman has emerged as the second-largest Natural Gas exporter in the Arab world. The report stated that Oman's liquefied gas exports stood at approximately 3.1 million tonnes during Q1 2023, a rise from 2.9 million tonnes in the same period last year.
According to a recent report, the Sultanate of Oman's Liquefied Natural Gas exports witnessed an impressive growth rate of 6.9%, ranking third among Arab countries. The report further highlighted that the Oman LNG Company's gas liquefaction units in Qalhat are now fully operational and have reached an annual production capacity of 11.5 million tons after successfully overcoming bottlenecks.
According to the report, Oman has secured its position as the second-largest exporter of Liquefied Natural Gas among Arab countries, trailing only Qatar. The report also revealed that global LNG exports hit an all-time high in Q1 2023, reaching 104.5 million tons, a significant increase from the 98.5 million tons recorded during the same period in 2022.
The Arab countries witnessed a substantial growth of 7.1 percent in their exports of Liquefied Natural Gas during the first quarter of 2023, which amounted to 29.5 million tons.