IGC launches its first-ever spot sale of natural gas in Oman

Muscat: Integrated Gas Company (IGC) announced the launch of its first spot sale of natural gas in Oman, marking a significant milestone in the country’s energy sector.

Under this pioneering agreement, IGC will supply 15,000 SM3 /D of natural gas to OCTAL FZC, a leading global PET packaging company with operations in Oman.

Dr Muslam Qatan , the chairman of the board of directors at Integrated Gas Company said, “This strategic partnership underscores IGC’s commitment to bolstering Oman’s economic diversification and aligns seamlessly with Oman Vision 2040”.

By enhancing the Sultanate’s prominence in the global energy markets, this deal boosts IGC’s revenue streams through positive price realisation.

It also signifies mutually beneficial partnerships with industries, in support of overall economic growth and sustainability. This inaugural agreement solidifies IGC’s bold presence and role in the sector, setting a strong foundation to deliver on its mandates.

“We are proud to launch our first-ever spot sale of natural gas in Oman,” said Abdul Rahman Al Yahyaei, CEO of IGC.

“This agreement with OCTAL is a testament to IGC’s ability to meet short-term demands for natural gas and contribute to sustainable economic development.  It reflects our dedication to advancing the goals of Oman Vision 2040 by fostering a diversified and robust economy.”

IGC is committed to its mission of expanding its energy market presence, driving economic diversification, and promoting long-term prosperity for Oman.

The company’s strategic initiatives, supported by the IGC Board of Directors, are designed to significantly enhance the country’s revenue streams while pursuing national objectives related to industrialisation, and contribute to a sustainable future.