Omani IGC to Sign Gas Purchase Deals

In a move that will mark a major milestone for Oman’s gas sector, the Integrated Gas Company (IGC) will be signing a series of Gas Purchase and Allocation Agreements with leading industrial companies during an official ceremony to be held on November 2. The event will coincide with the nation’s celebrations of Oman’s Glorious November and the National Day on November 20.

The new agreements will allocate over 27 million cu m of gas per day for an average of 10 years per agreement, representing double the current industrial consumption. This milestone will signify a major step forward in strengthening Oman’s manufacturing base and advancing economic diversification, it stated. The gas allocations will cover projects across the petrochemical, fertilizer, pharmaceutical, iron and steel, food and agriculture, power generation, cement, and mineral sectors, with total investments exceeding RO2 billion (US$5.2 billion).

IGC stated that these agreements will form part of its ongoing strategy to ensure the optimal utilization of national gas resources and to support high-value, economically viable projects that contribute to sustainable growth and the objectives of Oman Vision 2040.