E.ON eyes investment opportunities in Oman

E.ON, one of the world’s biggest gas and power companies, is keenly exploring investment and business opportunities in the Sultanate. A team of top executives led by the boss of the Düsseldorf, Germany-headquartered international energy conglomerate was in Muscat late last week for discussions focusing on a number of energy-related areas, spanning LNG processing and supply, gas exploration and production, natural gas and coal-fired power generation, and renewable energy development.

The visit headed by Dr Wulf H Bernotat, Chairman of the Board of Management and CEO of E.ON AG, further underscores Oman’s growing international appeal as an investment destination. E.ON is by far the largest privately owned utility company in the world, generating annual sales of just under EUR 87 billion in 2008. With operations in more than 30 countries, the company boasts a global workforce of roughly 93,500 employees. Its business interests span the spectrum of the energy chain, encompassing gas exploration, production, transportation, storage and distribution; LNG supply; natural gas, coal, nuclear and hydro power generation; power transmission, distribution and retail sales; and renewables and carbon sourcing.

Speaking exclusively to the Observer, Dr Bernotat said his three-day visit was aimed at assessing opportunities for business and investment in areas linked primarily to the company’s core power and gas business. Talks with high-ranking government officials focused on, among other areas, prospects for sourcing liquefied natural gas (LNG) from the Sultanate, as well as potential partnership opportunities in LNG processing schemes. “We are trying to establish opportunities to buy LNG from Oman on a spot or medium term basis.