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Sunday, April 21, 2024
Today's News

Oman signs $20bn hydrogen deals

Oman signs $20bn hydrogen deals

Oman’s Hydrom indications green hydrogen bargains worth $20bn as it seeks to accomplish sustainable power objectives

Oman has signed $20bn of environment-friendly hydrogen offers as it looks towards attaining sustainable power objectives.

Salim Al-Aufi, Chairman of Hydrogen Oman (Hydrom), a subsidiary of Energy Development Oman, signed multiple term sheets with environment-friendly hydrogen Tasks.

The eco-friendly hydrogen arrangements consist of six tasks situated in the distance of Duqm or Salalah ports:

  • BP Alternative Energy Investments Limited (for a task in Duqm and another in Dhofar).
  • Eco-friendly Energy Oman (GEO).
  • Eco-friendly Hydrogen and also Chemicals SPC (possessed by ACME).
  • Hyport Duqm consortium and also SalalaH2 consortium.

Oman hydrogen

These developments will certainly call for a set up capacity of about 15GW of renewable resource in the nation and also overall anticipated financial investments around $20bn.

The projects are anticipated to offer more than 700,000 tonnes of eco-friendly hydrogen, which would be additional refined in local markets and also into power carriers for export.

The finalizing of the offers becomes part of the nation’s objectives to develop tidy hydrogen tasks.

Minister of Power and Minerals, Salim Al Aufi, stated: “We are delighted to sign these binding business term sheets with the very first environment-friendly hydrogen jobs programmers in our journey towards decarbonisation.

” Oman has taken numerous vibrant steps following His Grandeur’s endorsement of the Internet Zero target by 2050. While these contracts develop the first statement of our success in the direction of decarbonisation, we eagerly anticipate signing even more contracts once we obtain the results of the initial public auction round that is currently being performed by Hydrom”.

The Sultanate has actually established a clear roadmap towards decarbonisation as well as attaining Net Zero by 2050, as well as Hydrom has actually been established as an orchestrator of green hydrogen market in Muscat, managed by the Ministry of Power and Minerals.

Last Updated:  16 March 2023

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