Oman has signed $20 billion of green hydrogen deals as it looks towards achieving its sustainable energy targets. Hydrogen Industry Leaders looks at how the projects will help boost renewable energy in the country.
Salim Al-Aufi, Chairman of Hydrogen Oman (Hydrom), a subsidiary of Energy Development Oman, has signed multiple term sheets with green hydrogen projects.
The six projects are located in the proximity of Duqm or Salalah ports, including BP Alternative Energy Investments Limited, Green Energy Oman, Green Hydrogen and Chemicals SPC, Hyport Duqm consortium and SalalaH2 consortium.
These projects will require an installed capacity of approximately 15GW of renewable energy in the country and are expected to provide more than 700,000 tonnes of green hydrogen, which would be further processed in local industries and into energy carriers for export.
Oman aims to increase green hydrogen production from 32,500 to 3.75 million tonnes per year by 2040 and from 3.5 to 8.5 million tonnes per year by 2050.
The country estimates that it will need a cumulative investment of $140 billion over this period to reach its production target by 2050.