Oman Energy Minister Says Middle East Needs to Diversify LNG Export Routes
The Middle East needs alternative export routes for liquefied natural gas that bypass the Strait of Hormuz, Oman’s Minister of Energy and Minerals said at Gastech today. LNG exports from the Persian Gulf have collapsed since the start of the war between the United States and Israel and Iran. “Let’s identify alternative export options,” Salim Al-Aufi said at the Gastech conference in Thailand, as…
Oman’s Energy Minister expressed the need for the Middle East to diversify liquefied natural gas (LNG) export routes, avoiding the Strait of Hormuz, following the collapse of LNG exports due to the conflict between the United States and Israel, and Iran. At the Gastech conference in Thailand, Salim Al-Aufi called for identifying alternative export options, such as through Oman or Yemen.
However, constructing these new pipelines would take time, potentially becoming new targets for drone and missile strikes, given recent attacks on Saudi Arabia’s East-West pipeline by Yemen. Oman, producing over 11 million tons of LNG annually, has been operating at near-maximum capacity this year to compensate for reduced supply from Qatar, the region’s biggest LNG producer.
MEES reported that Oman LNG hub was exceeding the nameplate capacity of its three trains. Meanwhile, Chevron’s Australian president predicts that LNG prices will remain high for an extended period, potentially six months or more. QatarEnergy, seeking LNG deals with U.S. producers to offset lost domestic supply due to Iranian strikes, is exploring long-term contracts through 2031, which could delay the restart of Ras Laffan, contributing to prolonged elevated LNG prices.
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