Oman LNG’s Record Production and Safety Milestones in 2024: What Investors and Business Owners Need to Know
MUSCAT: Oman LNG has reached a new milestone in 2024 by achieving its highest-ever production output, coupled with an exceptional plant efficiency rate of 98.23 percent, reflecting its steadfast commitment to operational excellence and sustainability.
CEO Hamad bin Mohammed al Naamany announced that the company is embarking on a new phase of expansion, marked by the initiation of long-term sales contracts that incorporate supply from both Oman LNG and Qalhat LNG. These advancements are supported by cutting-edge upgrades and maintenance programs designed to enhance the company’s performance and cost competitiveness in global markets.
In 2024, Oman LNG also implemented a significant shift in its commercial strategy, with long-term contracts now totaling 10.4 million metric tonnes annually. This provides a strong foundation for a flexible and diversified portfolio, enabling the company to uphold reliable supply commitments while remaining agile to capitalize on short-term market opportunities. This approach boosts the value delivered to partners and strengthens Oman’s role in global energy security.
Al Naamany highlighted Oman LNG’s contribution to the country’s goal of achieving carbon neutrality by 2050. The company recorded its highest-ever energy efficiency performance this year and was honored with the United Nations Environment Programme’s “Golden Path” award for methane emissions reduction, underscoring its leadership in producing low-carbon LNG.
To advance its climate goals, Oman LNG is investing in cost-effective energy efficiency technologies and long-term emissions management strategies. The company is also collaborating with local universities on research and development projects, including hydrogen fusion and a pilot methane initiative, which may lead to innovative clean energy solutions.
On the safety front, Oman LNG achieved over 27 million work hours without a lost time injury and has maintained zero operational safety incidents for more than 3,500 consecutive days. Its safety programs are aligned with the Oman Energy Association (OPAL), ensuring industry-leading standards.
Beyond operational success, Oman LNG remains dedicated to national development and social responsibility. — ONA
Special Analysis by Omanet | Navigate Oman’s Market
Oman LNG’s record production and strategic shift towards long-term contracts signal enhanced market stability and growth opportunities for businesses linked to energy and export sectors in Oman. Its commitment to sustainability and innovation in low-carbon technologies creates attractive prospects for smart investors focusing on green energy and environmental technologies. Entrepreneurs should consider leveraging partnerships in energy efficiency, clean energy R&D, and safety-driven operations to align with Oman’s vision for a carbon-neutral future by 2050.
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