Muscat – OQ Gas Networks (OQGN), the sole operator of Oman’s natural gas transportation network, has signed an agreement to acquire a gas transportation pipeline in Block 61, which hosts the Khazzan and Ghazeer gas fields, for nearly RO40mn.
The company signed an Asset Transfer Agreement with the Ministry of Energy and Minerals and the Ministry of Finance to acquire the 36-inch gas transportation pipeline of Block 61 (Ghazeer Phase-2) for RO39.991mn, OQGN said in a disclosure submitted to the Muscat Stock Exchange on Tuesday.
The new pipeline will be added to OQGN’s Regulated Asset Base (RAB), the company said.
‘This acquisition will add 65 kilometres to OQGN’s gas network. It will strengthen the consolidation of national gas transportation assets and support the company’s strategic ambition to lead the development of energy infrastructure in the sultanate,’ the company added.
OQGN holds a natural monopoly over critical gas transportation infrastructure in Oman as the exclusive owner and operator of the natural gas transmission network (NGTN). The company aims to champion the management and development of the NGTN through innovative and sustainable solutions.
OQGN currently manages more than 4,000km of pipeline infrastructure across Oman, supplying gas to a wide range of industries, including power generation, water desalination, cement and aluminium production, fertiliser manufacturing, and petrochemical plants.
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