Oman's OQ Gas Networks (OQGN), a subsidiary of the state-owned hydrocarbon company OQ, is planning to conduct an initial public offering (IPO), offering up to 49% of its shares The shares are expected to be listed on the Muscat Stock Exchange in October 2023. The IPO could raise an estimated OMR 212m (US$550m).
OQGN is the sole owner and operator of Oman's gas transport system and supplies natural gas to various sectors, including power plants, industrial clusters, and LNG facilities. The company, which functions under a 50-year concession granted in 2020, transported 39 bcm of gas in 2022, from six gas producers, to around 130 gas consumers, using 4,031 km of gas pipelines, supported by three compressor stations and 25 gas supply stations.