The liquefied natural gas (LNG) export volume in Oman stood at 14.97 billion cubic meters in 2023. Over the last two years, the LNG exports witnessed a year-on-year increase of 6.10% in 2022 and essentially stagnated with a marginal increase of 0.13% in 2023. The five-year compound annual growth rate (CAGR) from 2018 to 2023 is 1.99%, showing stable but modest growth.
Historical analysis reveals fluctuations in export volumes. Periodic growth phases were observed in 2016 (7.26%) and 2018 (19%), while downturns occurred in 2014 (-8.04%) and 2020 (-6.05%). Over a longer horizon, LNG exports in Oman display resilience and capacity to rebound from periodic declines.
Looking forward, forecasts suggest a very slight increase in LNG export volumes, reaching 15.02 billion cubic meters by 2028. The five-year forecast CAGR is projected at 0.05%, indicating minimal growth. Future trends to watch for include potential advancements in extraction and liquefaction technologies, market demand shifts in Asia and Europe, and geopolitical influences on energy trade routes.
