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Oman Urges Development of Alternate LNG Routes Avoiding Hormuz

Trading Random09-14 13:10

Oman's energy minister has called for the establishment of alternative export routes to ensure liquefied natural gas shipments can bypass the Strait of Hormuz, addressing a major forum of gas producers and traders amid ongoing regional tensions that have disrupted maritime traffic.

Speaking at the Gastech conference in Bangkok on Monday, Salim Al-Aufi, the Sultanate's minister of energy and minerals, stressed the need to diversify export pathways. "Let's identify alternative export options," he said. "Be it north or through Oman or through Yemen. Diversify your options to get the resources out of the area."

The minister's remarks coincide with Adnoc Gas Plc's evaluation of a new LNG export facility positioned outside Hormuz, a crucial chokepoint that typically handles approximately one-fifth of the world's super-chilled fuel supply. Currently, Oman operates a single LNG export terminal on its eastern coast, which operates independently of the strait.

The ongoing conflict in the region has highlighted Gulf nations' heavy dependence on this single maritime passage for the majority of their exports, prompting them to develop contingency plans to maintain export flows and sustain their economies.

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