Liquified Natural Gas (LNG), as the name implies, is gaseous natural gas that has been processed to remove certain components, typically to the point where it is 90 percent or more methane, and then cooled to the point of liquefaction. The end product is odourless, colourless, non-corrosive, and non-toxic. It is also much more dense than natural gas – taking up about 1/600th the space that the same amount of gaseous natural gas would take up. The considerable reduction in volume makes LNG much more efficient to transport and store than regular natural gas.
OTI is now trading more than 2 MTPA of LNG globally, with the LNG desk having commenced operations in 2016. Our well-established relationships with Oman LNG and Oman Shipping Company provide us with advantageous access to LNG product and tonnage. Although a relatively new business line for OTI, having quickly established our reputation in the LNG market as a reliable and trustworthy counterparty has enabled us to build strategic relationships with other state-owned LNG producers and end users.