Commodity Market Report
Oman energy markets long-term outlook 2019
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Report summary
With a looming shortfall of gas, Omani government has adopted a pragmatic approach to incentivise new upstream developments. This will relieve the country's gas balance and allow additional LNG exports in the medium term. Oman has also formulated a strategy to diversify the power mix – with ambitious renewable targets and plans to introduce coal-fired generation. This will ultimately reduce the share of gas in power, although there are uncertainties on timing and implementation. Despite diversification efforts, hydrocarbons will remain core to its energy mix. Additional production will be critical to sustain the market balance into the 2020s as energy-intensive industrial projects come online. This report highlights the key energy trends in Oman: - How will diversification efforts impact the energy mix in Oman? - How long can LNG exports run at close-to-full capacity? - When will additional gas production be needed?
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