Oman LNG settles $2 bln loan

Oman LNG, the state-owned operator of the liquefied natural gas terminal in Qalhat near Sur with a nameplate capacity of 10.4 million tonnes per annum (mtpa) said it has repaid a $2 billion loan. 

The company noted in a brief statement through its social media channels that the loan facility has been repaid ahead of schedule, saving interest costs.

Commenting on the early repayment of the loan, Harib Al Kitani, CEO of Oman LNG said, “the successful repayment of the loan will open a huge opportunity for more projects or expansion of this successful natural gas investment by the government and other shareholders.”

Oman LNG added that the country’s natural gas industry has grown out of the initial government’s plans to diversify the country’s economy. LNG has become the largest income generator for the country, second only to oil.