𝐎𝐐𝐆𝐍 𝐒𝐞𝐭𝐬 $𝟏𝐛𝐧 𝐒𝐮𝐤𝐮𝐤 𝐏𝐫𝐨𝐠𝐫𝐚𝐦𝐦𝐞

OQ Gas Networks (OQGN) has established a US$1 billion sukuk issuance programme to give the company flexible access to international debt capital markets and diversify its funding options. The programme creates a framework for future sukuk issuances, which could be listed on the London Stock Exchange’s International Securities Market, subject to OQGN’s funding requirements, market conditions and regulatory approvals. Importantly, no sukuk has been issued and no financing has been raised under the programme at this stage, and OQGN said establishing the programme does not change its approved capital expenditure or business plan. The company is continuing network expansion to meet Oman’s natural-gas demand, with S&P projecting annual capital expenditure of RO45–60 million in 2026 and 2027.