OMAN has signed an agreement with Qalhat LNG Company to increase gas feed price for 20 years. The agreement was signed by Ahmed bin Abdulnabi Macki, minister of national economy and deputy chairman of the Financial Affairs and Energy Resources Council and Mohammed bin Hamed Al Rumhy, oil and gas minister, Sheikh Alfadhel bin Mohammed Al Harthy, chairman of Qalhat LNG and Harib bin Abdullah Al Kitani, president and CEO of Qalhat LNG.

In a statement, Macki says the agreement would ensure more income for the government as it stipulates improvement in prices of gas supplying to Qalhat LNG. Qalhat LNG Company has managed to successfully contribute to creating added value for the LNG industry in the Sultanate and enhance sources of national income.
Al Romhi says: Signing of this agreement reinforces the prominent status of Omani oil and gas companies and their ability to make profits especially at these difficult times, considering the challenges facing the global oil and gas markets. He commends the success made by Qalhat LNG in negotiating with international buyers to increase prices.
He says these efforts affirmed the integration that distinguishes the relation between the government and the companies in charge of gas industry and marketing.
Sheikh Alfadhel bin Mohammed Al Harthy was upbeat on the company’s achievement. He comments that the company’s strategy was designed in a way to help achieve remarkable results and accomplishments based on the economic vision of the Omani economy 2020.
The newly-signed gas price revision agreement would create substantial value addition to the government. The achievement made by the company is a reflection of the success of all our business partners: the Sultanate’s government is the most important of all, he adds.