Methanol Projects to Contribute to Oman GDP

Methanol-based petrochemical projects are expected to become the major industrial contributors to the GDP of Oman, Maqbool bin Ali Sultan, minister of commerce and industry said here.

Sultan said that the past few years have witnessed the emergence of a number of petrochemical projects with more emphasis on gas-based mega projects rather than exporting the whole gas. Currently, Oman has two methanol plants, the first being Sohar Methanol plant which started production in 2007 and Salalah Methanol Plant, which is expected to start production in the second quarter of 2010.

According to Sultan, the methanol projects are expected to contribute effectively to the Omani economy through development and diversification of industrial exports.

The minister was speaking at a two-day conference "Methanol technology and marketing", organized by the ministry of commerce and industry in collaboration with the Administration and Technology Centre in Singapore.

The conference's aim is to discuss modern systems and technologies, challenges facing methanol industry, finding new markets for methanol industry, the future of competition on the chemical industries, keeping pace with the latest environmental criteria in methanol production and the latest information on marine shipping and transportation.

Nasser Bin Khamis Al Jashmi, Undersecretary of the Oil and Gas Ministry said that the methanol projects, which are gas-based, are expected to generate other downstream projects and industries such as projects related to medical supplies.

A number of working papers on the methanol industry post-global financial crisis, upgrading the methanol technology, methanol shipping and transportation, global energy development, methanol markets, safety of environment, methanol industry and production specifications, as well as, methanol experiences from Azerbaijan and Salalah projects were presented. - Khaleej Times, Zawya