LNG

The advance of North Sea Brent crude prices to above two-year highs continued this month’s hydrocarbon sector revival and with 2021 highs also being set for European LNG values and the North Asia spot LNG price jumping to over $12 as more cargoes were being lifted worldwide.

Oman is planning to increase its natural gas production for domestic use and LNG exports to such an extent that the sultanate in the Arabian peninsula will see gas output levels overtaking oil by around 2025.