Oman and IEA deepen bilateral cooperation with three joint projects

BUSINESS REPORTER

MUSCAT, DEC 24

The Sultanate of Oman and the International Energy Agency (IEA) currently have three joint projects to develop and enhance the production of green hydrogen in Oman. Dr Abdullah bin Sulaiman al Abri, advisor and representative of the Sultanate of Oman at Paris-based IEA, said there are three joint projects being worked on between the Sultanate of Oman and the agency, praising the existing cooperation between the two sides in this field.

In a statement to Oman News Agency, Dr al Abri said that the first project is to develop green hydrogen markets for energy and local industry uses, as it will work to identify the industrial and productive sectors that currently depend on natural gas and develop the possibility of converting them to green hydrogen. This will eventually leads to reducing dependence on natural gas and provide for the development of other industrial projects that raise the economic value of natural gas and work to attract investors and technology makers to the Sultanate of Oman.

The second project is to build the local capabilities in green hydrogen production and to benefit from the infrastructure Oman’s possesses in the fields of oil, gas, ports, the spot electricity market and others.

The third project, expected to be completed by 2023, is to build a system that simulates the total income of the state. It will allow calculating the development of green hydrogen on the national income of Oman in 2050, the quantity to be exported abroad, trade balance and business and employment opportunities.

There are other projects that have been discussed with the Ministry of Energy and Minerals, such as ways to store renewable energy — whether by batteries, converting it into hydrogen, or pumping seawater through artificial lake need to generate electricity. It also include discussing opportunities for localising supply chains and ways of cooperation with Tanmia, Oman Energy or with the Oman Investment Authority.

“The IAE works in the fields of energy, renewable energy and climate change and seeks to motivate member states and countries represented in the agency to use renewable energies in order to achieve energy security and preserve the environment from pollutants that lead to climate changes,” Al Abri added.

Global investment funds, import and export companies have allocated huge sums to invest in green hydrogen projects worldwide, estimated at $500 billion, which is an opportunity for the Sultanate of Oman to work to attract these investments in its projects related to green hydrogen.

“Oman has been successful in this (green hydrogen) field, and, with the country’s determination to invest in this sector, it is expected that it will contribute to attracting large investments that will enhance efforts in the field of production and export of green hydrogen,” he added.