Oman’s Hydrom Secures $10bn Agreements for Green Hydrogen Projects

22 June 2023

Oman’s Hydrom Secures $10bn Agreements for Green Hydrogen Projects

Oman’s Hydrom has signed agreements worth $10 billion to develop two new green hydrogen projects with a Posco-Engie consortium and the Hyport Duqm consortium. These projects will contribute to Oman’s commitment to reinforce its leading position in the global green hydrogen sector.

With a total production capacity of 250 kilotonnes per annum from more than 6.5 gigawatts of installed renewable energy capacity, these projects will be located in Al Wusta province, as reported by state news agency ONA.

“We are pleased to witness the signings of these new agreements with such prestigious international companies,” said Salim Al Aufi, Oman’s Energy Minister. “The fast-paced efforts behind the announcement of these new projects reflect Oman’s commitment to reinforce its leading position in the global green hydrogen sector in line with its energy transformation strategy,” Mr Al Aufi said.

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Green Hydrogen Projects in Oman

Oman, the largest non-Opec oil producer in the Middle East, has set ambitious targets for green hydrogen production. By 2030, the country aims to produce at least a million tonnes of renewable hydrogen a year, with plans to ramp up capacity to 3.75 million tonnes by 2040 and 8.5 million tonnes by 2050. To oversee the development of hydrogen projects in the country, the sultanate established Hydrom in October.

Partnerships and Future Plans

Engie, a French energy company, and South Korea’s Posco have partnered with Oman’s Hydrom to develop green hydrogen projects. The hydrogen produced from these projects will be converted into about 1.2 million tonnes per annum of green ammonia for export. Operations are expected to begin by 2030.

Hyport Duqum, a collaboration between Oman’s state energy company OQ and Belgium’s DEME Group, aims to produce more than 50 kilotonnes per annum of green hydrogen by 2029 in the project’s first phase.

Hydrom, in addition to launching the second bid round of its green hydrogen auction process, aims to award up to three land blocks in the Dhofar region by the end of the first quarter of 2024.

With agreements worth $20 billion recently signed with Amnah, Green Energy Oman, and BP Oman, Hydrom is focused on establishing three major green hydrogen projects in Al Wusta province. These projects further highlight Oman’s commitment towards stimulating the growth of its green hydrogen sector and achieving the national objective of producing more than one million tonnes per annum of green hydrogen by 2030.

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22 June 2023

Oman’s Hydrom Secures $10bn Agreements for Green Hydrogen Projects

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