Latest news with #OQGasNetworks
Observer
20 hours ago
- Business
- Observer
MSX market cap surpasses RO 28 billion
MUSCAT: The market capitalisation of the Muscat Stock Exchange (MSX) climbed to over RO 28 billion last week, supported by weekly gains of RO 79.3 million as several stocks ended higher. The MSX's main index closed at 4,578 points, up 17 points, maintaining the momentum seen over the past five weeks. The services sector index gained 5 points, driven by strong performances from Ooredoo, Omantel and OQ Gas Networks. In contrast, the industrial and financial sector indices dropped by 17 and 10 points, respectively, while the Shariah index recorded a marginal decline. The daily trading volume increased to RO 11 million, up from RO 10 million the previous week. The average daily number of transactions also rose, reaching 2,149 compared to 1,787. Trading was limited to four days due to the Eid Al Adha holiday. OQ Base Industries dominated activity with trades worth RO 10.58 million — 24 per cent of the week's total trading value of RO 44 million. Its share price rose by 4 baisas to close at 122 baisas. Bank Muscat followed with RO 5.49 million in trades, while OQ Gas Networks, Sohar International Bank, and OQ Exploration and Production rounded out the top five most traded stocks. Market performance remained buoyant with 34 securities gaining, 30 losing and 17 remaining unchanged. Muscat Gases posted the highest weekly gain at 18 per cent, closing at 118 baisas. Galfar Engineering rose 9 per cent to 72 baisas, while National Gas gained 8.8 per cent to 86 baisas. National Gas Company also announced the acquisition of an 80-per cent stake in Samharam Gas Company, which operates LPG bottling and distribution in Dhofar. The deal is expected to enhance the company's market position and profitability. In corporate news, Al Anwar Investments reported a surge in net profits from RO 532,000 to approximately RO 2.4 million for the fiscal year ending on March 31, 2025. Its board approved a 4-per cent cash dividend and a 4-per cent bonus share issue, subject to approval at the AGM on June 25. The share closed last week at 83 baisas, down 2 baisas. — ONA
Zawya
06-05-2025
- Business
- Zawya
Oman to boost gas pipeline capacity
MUSCAT: OQ Gas Networks (OQGN), the sole owner and operator of Oman's national gas transportation system, is targeting a significant expansion of its pipeline network to support both volume growth, as well as enable the strategic management of the countrywide gas supply grid. Future growth plans outlined by the publicly traded company – part of OQ Group – envision a 5.6 per cent rise in the network's current length of 4,235 km, and a 13.1 per cent increase in the network's current capacity of 70.48 billion cubic metres (BCM). This growth is proposed to be achieved by 2027, the company noted in its 2024 Annual Report. 'OQGN's business plans align with Oman Vision 2040, focusing on energy diversification, digital transformation, and sustainable growth. During the next three years, the Company aims to expand its total pipeline length to nearly 4,500 km and increase network capacity to nearly 80 BCM,' the company stated. Gas demand is anticipated to grow at a CAGR of 4.7 per cent between 2024 and 2030, according to OQGN. In 2024, the company delivery 42.98 BCM of gas, entailing a 3.5 per cent increase over the previous year's total. Consumers included LNG facilities, power and desalination plants, and industrial sectors throughout the country. Of the many suppliers channeling natural gas to OQGN, through state-owned Integrated Gas Company (IGC), the Unified Shipper, Petroleum Development Oman (PDO) contributed a 56.8 per cent share. The largest consumer was the LNG sector, accounting for 41.3 per cent of total gas consumption, followed by the industrial and commercial sectors at 27.6 per cent. Significantly, OQGN's new pipeline and capacity growth will be driven by around 10 ongoing projects, including the following strategic initiatives: Fahud-Suhar Loop Line: It entails the construction of an additional 193 km, 42-inch loop line from the Fahud Compressor Station to Block Valve Station-6 in the Al Dhahirah Governorate, running parallel to two existing 32-inch pipelines from Fahud Compressor Station to Suhar. The project also includes the construction of a 2 km, 16-inch spur line to supply gas to the proposed Ibri Industrial Estate GSS and the extension of six block valve stations. When completed in 2027, the project will boost capacity at Suhar by more than 26 per cent. Central Rich and Lean Gas Segregation Project (CRL): Centring on the development of a gas blending station in the Central Region for rich and lean gas segregation, this project also includes a 48-inch, 65km loop line extension from Block Valve Station 9 to the Sur GSS. Total investment in the project, which will enhance gas value by segregating rich and lean gas, is around RO 70.8 million. The project has been partly commissioned. Additionally, OQGN is rolling out a Long-Term Network Development Plan (LTNDP) designed to analyze and balance gas supply and demand. Updated annually, this tool provides a seven-year forecast to ensure the network can meet future requirements related to the rise in consumption due to population growth or large new industrial projects. 'This planning process helps identify bottlenecks, assess infrastructure adequacy, and guide investment decisions made by the Government of Oman, the Shipper (IGC), and the Regulator (APSR) to plan for network capacity, supply, and gas distribution to different regions. The current LTNDP covers the period from 2024 to 2031,' the company added. 2022 © All right reserved for Oman Establishment for Press, Publication and Advertising (OEPPA) Provided by SyndiGate Media Inc. (
Observer
05-05-2025
- Business
- Observer
Oman to boost gas pipeline capacity
MUSCAT, MAY 5 OQ Gas Networks (OQGN), the sole owner and operator of Oman's national gas transportation system, is targeting a significant expansion of its pipeline network to support both volume growth, as well as enable the strategic management of the countrywide gas supply grid. Future growth plans outlined by the publicly traded company – part of OQ Group – envision a 5.6 per cent rise in the network's current length of 4,235 km, and a 13.1 per cent increase in the network's current capacity of 70.48 billion cubic metres (BCM). This growth is proposed to be achieved by 2027, the company noted in its 2024 Annual Report. 'OQGN's business plans align with Oman Vision 2040, focusing on energy diversification, digital transformation, and sustainable growth. During the next three years, the Company aims to expand its total pipeline length to nearly 4,500 km and increase network capacity to nearly 80 BCM,' the company stated. Gas demand is anticipated to grow at a CAGR of 4.7 per cent between 2024 and 2030, according to OQGN. In 2024, the company delivery 42.98 BCM of gas, entailing a 3.5 per cent increase over the previous year's total. Consumers included LNG facilities, power and desalination plants, and industrial sectors throughout the country. Of the many suppliers channeling natural gas to OQGN, through state-owned Integrated Gas Company (IGC), the Unified Shipper, Petroleum Development Oman (PDO) contributed a 56.8 per cent share. The largest consumer was the LNG sector, accounting for 41.3 per cent of total gas consumption, followed by the industrial and commercial sectors at 27.6 per cent. Significantly, OQGN's new pipeline and capacity growth will be driven by around 10 ongoing projects, including the following strategic initiatives: Fahud-Suhar Loop Line: It entails the construction of an additional 193 km, 42-inch loop line from the Fahud Compressor Station to Block Valve Station-6 in the Al Dhahirah Governorate, running parallel to two existing 32-inch pipelines from Fahud Compressor Station to Suhar. The project also includes the construction of a 2 km, 16-inch spur line to supply gas to the proposed Ibri Industrial Estate GSS and the extension of six block valve stations. When completed in 2027, the project will boost capacity at Suhar by more than 26 per cent. Central Rich and Lean Gas Segregation Project (CRL): Centring on the development of a gas blending station in the Central Region for rich and lean gas segregation, this project also includes a 48-inch, 65km loop line extension from Block Valve Station 9 to the Sur GSS. Total investment in the project, which will enhance gas value by segregating rich and lean gas, is around RO 70.8 million. The project has been partly commissioned. Additionally, OQGN is rolling out a Long-Term Network Development Plan (LTNDP) designed to analyze and balance gas supply and demand. Updated annually, this tool provides a seven-year forecast to ensure the network can meet future requirements related to the rise in consumption due to population growth or large new industrial projects. 'This planning process helps identify bottlenecks, assess infrastructure adequacy, and guide investment decisions made by the Government of Oman, the Shipper (IGC), and the Regulator (APSR) to plan for network capacity, supply, and gas distribution to different regions. The current LTNDP covers the period from 2024 to 2031,' the company added.
Yahoo
05-05-2025
- Business
- Yahoo
Oman pushes cleaner energy with green hydrogen and gas projects
Oman is increasing its bets on cleaner energy, with another green hydrogen auction round and a low-emission liquefied natural gas (LNG) bunkering project. The latest hydrogen auction is focused on Duqm, where 300 square km is available for solar and wind plants needed to produce the fuel. Formal bids are due early next year. It's big business: two previous rounds drew pledges of $49 billion to develop 30 gigawatts of renewable power and 1 million tons per year of hydrogen capacity. OQ Gas Networks is planning a national hydrogen pipeline network to support the projects. Further north, TotalEnergies and OQ Exploration and Production broke ground on the $1.6 billion Marsa LNG project. This will produce up to 1 million tons per year of fuel for ships and will be powered by a 300 megawatt solar plant, which the partners say will make it the world's lowest-emission LNG plant.
Zawya
25-04-2025
- Business
- Zawya
Oman plans 300 – 400km hydrogen pipeline by 2030
MUSCAT: OQ Gas Networks (OQGN), the sole owner and operator of Oman's national gas transportation network, says it anticipates the development of hydrogen pipelines ranging in length from 300 – 400 kilometres by 2030, in conjunction with the growth of the country's green hydrogen industry. Funding approval for this initiative, conceived in line with its mandate as the National Infrastructure Provider for the hydrogen transportation network, is expected in 2027, the publicly traded, majority state-owned company said in its newly published 2024 Annual Report. 'OQGN will follow a phased approach, beginning with regional pipelines, which can later be expanded into a nationwide hydrogen network. By 2030, the Company expects 300-400 km of hydrogen pipelines to be built, with the final investment decision (FID) expected by 2027,' OQGN – part of OQ Group - stated. The 'regional lines' in question are a reference to OQGN's role in rolling out hydrogen pipelines as part of an end-to-end, integrated common use infrastructure (CUI) encompassing dedicated networks for electricity supply, ultrapure water and other utilities. This infrastructure will be made available for use by the eight consortiums currently in the early stages of developing their green hydrogen projects in dedicated blocks in Al Wusta and Dhofar governorates. OQGN says it plans to leverage its expertise in the operation of the country's 4,235 km gas transportation network in rolling out the new hydrogen network. To this end, it is working with Hydrogen Oman (Hydrom) – the architect of Oman's green hydrogen industry – on the technical aspects of the proposed hydrogen pipeline system for the country. 'OQGN is collaborating with Hydrom, which orchestrates implementing the green hydrogen strategy, bringing together producers, end-users, and infrastructure providers. While Hydrom facilitates discussions and attracts foreign direct investment (FDI), OQGN is responsible for the technical and operational development of the pipeline infrastructure,' the company noted. Last year, in line with its remit as the National Infrastructure Provider for the hydrogen transportation network, OQGN signed a MoU with the consortium developing the SalalaH2 green hydrogen project in Salalah. The multinational consortium, comprising OQ Alternative Energy, Marubeni Corporation, UAE-based Dutco Group and Samsung C&T of South Korea, is targeting the production of 1 million tpa of green ammonia and 175,000 tpa of green hydrogen. Also in 2024, OQGN conducted a strategy study to evaluate the complexities of developing hydrogen infrastructure and its commercialization, it noted in its Annual Report. Furthermore, in parallel with its hydrogen pipeline strategy, OQGN is master planning the development of a carbon dioxide (CO₂) transportation network infrastructure to link CO₂ emission sources with storage and utilization sites. 'Some CO₂ will be stored underground for carbon capture and storage (CCS) projects, while other volumes will be used as feedstock in industries such as fertilizer production, desalination, and enhanced oil recovery in upstream oil and gas operations,' it said. Envisioned for implementation on the CO2 front is a project with energy major Shell focusing on the development of underground CO2 storage. Separately, OQGN is collaborating with Oxy Oman in the development of a CO2 network to support the latter's enhanced oil recovery operations. Additionally, the company is 'collaborating with Shell, OQ, and PDO on Blue Horizons' low-carbon and ammonia project, which is currently in the pre-FEED (front-end engineering design) stage, to explore commercial models and ensure shareholder value'. Further into 2025, OQGN plans to initiate developmental work on a regulatory and commercial framework for hydrogen and CO₂ transportation. Additionally, the company plans to advance technical studies for hydrogen and CO₂ projects, ensuring readiness for the final investment decision in 2027. 2022 © All right reserved for Oman Establishment for Press, Publication and Advertising (OEPPA) Provided by SyndiGate Media Inc. (
