Integrated Gas Company (IGC) has signed a new series of agreements under Oman’s Spot Gas Market, strengthening the flexibility of the country’s gas system and improving the allocation of natural gas resources.

The agreements were signed at a ceremony held under the patronage of Qais Al Yousef, Chairman of the Public Authority for Special Economic Zones and Free Zones (OPAZ), with participation from government officials, industry leaders, gas producers, and consumers.

Launched in mid-2024, Oman’s Spot Gas Market has introduced competitive auctions and direct transactions to improve transparency and ensure available gas volumes are directed toward the highest-value economic activities. 

The platform enables industrial and commercial users to access additional or short-term gas supplies to support operations, expansion plans, and investment opportunities.

IGC said the market has strengthened supply-demand management, increased economic returns from natural gas resources, and supported Oman’s industrial competitiveness.

The initiative also contributes to sustainability goals by enabling greater use of cleaner-burning natural gas as an alternative to diesel during periods of high demand.

The company highlighted collaboration with Nama Power and Water Procurement Company to provide additional gas volumes for power generation, supporting electricity exports through the GCC Interconnection Grid.

Natural gas remains central to Oman’s economy, providing around 95% of fuel for electricity and water production and supplying more than 150 industrial and commercial facilities across the Sultanate.

Abdulrahman Al Yahyaei, Chief Executive Officer of Integrated Gas Company, said: “The Spot Gas Market has evolved into a strategic platform that enhances the flexibility, efficiency, and responsiveness of Oman’s gas sector. It enables us to allocate available gas resources more effectively, support industrial expansion, and maximize the economic value generated from the Sultanate’s natural gas resources. As Oman’s economy continues to diversify and industrial demand grows, flexible market-based mechanisms such as the Spot Gas Market will play an increasingly important role in supporting sustainable economic development and long-term energy security.”

Al Yahyaei added: “At IGC, we remain committed to continuously enhancing market mechanisms and developing innovative solutions that improve transparency, flexibility, and efficiency across the gas value chain. Our objective is to ensure that Oman’s natural gas resources continue to deliver maximum value to the national economy while supporting the objectives of Oman Vision 2040 and creating sustainable benefits for future generations.” 

Copyright 2026 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (Syndigate.info).