Oman’s gas consumption rises 16% as economy grows
Oman’s onsumption of natural gas rose by 16.4 per cent year-on-year in the first nine months of 2022, thanks to a sharp rebound in economic activity this year.
Total consumption of natural gas increased to 39,197mn cubic metres (mncm) during the January–September period of 2022 against 33,666mncm in the corresponding period of 2021.
The growth in natural gas consumption was driven by increased demand from industrial projects, oilfields and power generation plants, the Ministry of Energy and Minerals’ figures released by the National Centre for Statistics and Information (NCSI) showed.
To meet the domestic demand, Oman produced and imported a total of 39,197mncm natural gas during the January–September period of this year, which is more than 16 per cent higher compared to the total of production and imports in the first nine months of 2021.
Increased gas consumption reflects the sharp rebound in Oman’s economic activity. The sultanate’s economy is witnessing a remarkable expansion this year as elevated oil prices, increased hydrocarbon production and stronger non-oil growth have provided a much needed boost to the country’s GDP.
Oman’s nominal GDP – gross domestic product at current market prices – recorded a whopping 32.4 per cent growth in the first half of 2022, the fastest economic expansion in over a decade, official data showed.
Industrial and manufacturing sector activities have recorded robust growth this year. The value of overall industrial sector output grew 26.2 per cent in the first half of 2022, while manufacturing expanded by more than 65 per cent on year-on-year basis.
Industrial projects, the biggest natural gas consuming sector in the sultanate, recorded total gas consumption of 23,176mncm in the first nine months of this year, which is 19.3 per cent higher as compared to 19,421mncm consumption in the same period a year ago.
Gas usage in the oilfields increased by more than 12 per cent to 9,842mncm in the first nine months of this year against 8,745mncm in the same period of 2020.
Natural gas consumption at Oman’s power generation plants also increased nearly 12 per cent to 5,995mncm this year as compared to 5,356mncm in the same period of 2021.
Source: Muscat Daily