Oman LNG back on track
Posted: 18 June 2007
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Oman resumed shipments from the LNG terminal at Sur less than a week after stopping exports as a precaution due to Cyclone Gonu
Oman LNG, in which Shell is a shareholder, sent out the first shipment after the cyclone on June 9 and the plant was at maximum production.
 "We are back on track," an official said, adding that the LNG facility will need some readjustments after the extreme weather.
The Qalhat complex, operated by Oman LNG, produces about 9.9 million tons a year of LNG. Oman LNG exports most of its LNG to South Korea , Japan and India . Oman LNG is majority owned by the Omani government, with Shell holding 30%.
Oman holds gas reserves of about one trillion cubic metres and crude oil reserves of 5.6 billion barrels and is the largest non-OPEC oil producer in the Middle East .
During Gonu’s progress the cyclone played a minor part in the crude oil futures market. Oil advanced $1 as news broke of the cyclone heading for the Arabian Gulf . It had market watchers worried about disruption to shipping from Oman and Iran but as Gonu weakened and damage was seen as minimal, prices retreated. |
