Oman to build hydrogen projects worth $20 bln
MUSCAT, March 15, 2023 – Oman Hydrogen has signed six agreements with international players to build hydrogen projects in Oman worth more than USD 20 billion, Reuters reported on Tuesday.
The term-sheet agreements for six green hydrogen projects in Duqm and Salalah ports were signed with BP Alternative Energy Investments for two projects at both respective ports, Green Energy Oman, Green Hydrogen & Chemicals, Hyport Duqm consortium and SalalaH2 consortium.
The total production capacity of electricity at the six projects is 15 MW.
The agreements include contracting for 47 years, with seven years devoted to developing the projects and 40 for operations and maintenance.
More than USD 20 billion is expected to be spent on developing the projects.
The deals were signed by Minister of Energy and Minerals and Chairman of Hydrogen Oman’s Board of Directors Salim Nasser Al Aufi.
Oman Hydrogen is a subsidiary of state-owned Energy Development Oman set up in October 2022 to lead Oman’s hydrogen goals of producing between 1 million tonnes and 1.25 million tonnes of green hydrogen by 2030.
Oman expects green hydrogen to begin production in Oman between 2028 and 2030.
The country also set a national goal of having net-zero carbon emissions by 2050 in October 2022.