OQGN Sustainability Report Reveals Decarbonization Advances: Implications for Investors and Businesses in Oman
MUSCAT: OQ Gas Network (OQGN), the leading gas transmission operator in Oman, has published its inaugural annual Sustainability Report, highlighting the company’s accomplishments in environmental responsibility, workforce development, and operational transparency for the year 2024. This report aligns with Oman Vision 2040 and supports the country’s net-zero aspirations.
Following its listing on the Muscat Stock Exchange in 2023, OQGN has achieved significant advancements in key sustainability metrics. Notably, the company has reduced its Scope 1 and 2 emissions by 46 percent compared to the 2021 baseline, decreased water consumption by 63 percent, and successfully recycled over 3,400 cubic meters of wastewater. Additionally, OQGN executed its first Remote Techno Plug (RTP) operation on a 48-inch gas pipeline in Oman, which greatly minimized flaring during maintenance activities.
The well-being and inclusion of its workforce have remained paramount, as evidenced by OQGN recording 14.9 million safe man-hours without incidents of discrimination and achieving a 76 percent employee satisfaction rating. Women currently occupy 13 percent of full-time middle management positions.
CEO Mansoor Al Abdali remarked, “Our commitment to sustainability is central to our progress. By becoming one of the first nine companies in Oman to publicly disclose our ESG performance via the MSX platform, we assure our stakeholders that we are not only building a company but also a lasting legacy of innovation and responsibility.”
In support of Oman’s 2050 Net Zero target, OQGN has advanced its decarbonization strategy throughout 2024, focusing on three key areas: process optimization and energy efficiency, clean energy and electrification, and leveraging data and innovation. Collectively, these strategies aim for a 42 percent reduction in greenhouse gas emissions by 2030 and an 82 percent reduction by 2040, ultimately aspiring to achieve net-zero emissions by 2050.
A significant milestone for 2024 includes a 45.7 percent reduction in combined Scope 1 and 2 emissions, attributable to initiatives such as optimizing gas-fired heaters and compressors, minimizing flaring and venting, and piloting energy-efficient technologies across essential infrastructure. The implementation of solar systems at eight block valve stations further underscores the company’s commitment to integrating clean energy solutions.
OQGN has also launched an in-house AI-driven digital monitoring platform, which automates tracking of electricity and fuel consumption, allowing real-time performance assessments and reducing human error. The company has reported a 96 percent reduction in vented gas and a 44 percent decrease in flared gas volumes compared to 2021.
In partnership with Hydrom, OQGN is working on developing national infrastructure for hydrogen and CO₂ transportation. Ongoing technical feasibility studies and collaborative efforts aim to facilitate open-access pipeline networks for green hydrogen and carbon capture, utilization, and storage (CCUS). These initiatives are part of a broader strategy to repurpose existing natural gas pipelines to support low-carbon fuels and enhance the long-term sustainability of Oman’s energy sector.
Additionally, OQGN has expanded its solar power capabilities across its facilities, added electric vehicles to its fleet, and implemented an AI-powered surveillance system to ensure pipeline integrity.
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OQ Gas Network’s inaugural Sustainability Report signifies a transformative shift in Oman’s energy landscape, aligning business operations with national sustainability goals. This creates opportunities for investors focusing on green technologies and decarbonization efforts, while also presenting risks for companies lagging in ESG compliance. Smart entrepreneurs should leverage OQGN’s advancements in clean energy and AI-driven efficiency to position themselves as leaders in the emerging sustainable market.
