Oman hosts Gas & LNG Middle East Summit

Business Monday 29/October/2018 15:35 PM
By: Times News Service
Oman hosts Gas & LNG Middle East Summit

Muscat: Muscat will host the prestigious Gas and LNG Middle East Summit under the patronage of Dr Mohammed Al Rumhy, Minister of Oil and Gas, with Oman LNG as the key sponsor. The summit, a collaboration between Oman LNG and Wisdom Events, will be attended by many senior level executives and gas experts from the global gas industry.
In his welcoming note, Dr Al Rumhy indicated that the Gas and LNG Summit is timely considering the growth in the gas and liquefied natural gas (LNG) industry in the Middle East as they have become an important commodity. The whole region now are discussing the value and importance of gas and LNG.
He further mentioned that we have been blessed with new discoveries where LNG is discussed in the future plans. The Middle East will continue to be a major hub for gas and LNG in the coming years and there is massive growth of LNG import in the east of our region, he added.
The conference provides an opportunity for officials, decision-makers and specialists in the gas and LNG sectors to share knowledge, raise awareness and discuss the strategic options and solutions offered by natural gas suppliers and service providers in terms of sustainability of energy availability and its pivotal role in social and economic development.
The panel sessions provide an opportunity for government representatives and industry professionals to share knowledge, raise awareness and discuss technical enhancements and safety challenges related to this bourgeoning industry.
With all eyes on the current economic shifts in the global oil and gas industry and numerous gas opportunities arising in this region, in the Sultanate of Oman in particular, the time could not be better to host this event in the region accompanied by reputable government and industry partners, and key gas experts.
“Over the course of the next few days, we look forward to learning from each other and sharing knowledge. With senior leaders, partners and experts in the gas industry here with us, we have an invaluable opportunity to discuss the role of natural gas today, and in the near future. There is no doubt new insights and added-value will be brought to the global gas industry,” Harib Al Kitani, Chief Executive Officer of Oman LNG, shared.
Oman supplies a critical three per cent of liquefied natural gas to meet demand in international LNG trade and its volumes are pivotal in keeping the balance of supply and demand.
The global liquefied natural gas market needs are expected to develop much faster than pipeline gas trade due to the flexible nature of liquefied natural gas and its accessibility to countries. Natural gas possesses a list of properties that combine to make it a more desired energy option such as its non-toxic nature, ability to float on water, being odourless and colourless, and lighter than air when burned. As the global energy industry turns to renewables, liquefied natural gas is perfectly positioned to provide solutions for the mid to long term.
The LNG industry is also a significant contributor to a steadily increasing quality of life for citizens and residents in the Sultanate of Oman through its execution of a wide swath of social investment programmes that addresses many economic and social needs.
Export of Oman’s first cargo was in 2000 and since then proceeds from the blossoming trade have supported what some observers have described as an ambitious diversification programme that has spurred growth in other important sectors of the economy including tourism, agriculture and the spread of vital infrastructure that support businesses and daily life.