In addition to prospects for large-scale exports, Oman’s future hydrogen industry has the potential to spawn the growth of a wider ecosystem that supports investments in industrial and petrochemical projects producing green hydrogen, green ammonia and synthetic fuel, among other decarbonised commodities, according to Hydrogen Rise AG, a German firm specialising in hydrogen technologies.
Hydrogen Rise CEO Dr Bernd Wiemann said the potential for a new economic sector based on ‘green hydrogen’ is “real” for the Sultanate. Key factors boding well for Oman in this regard are as follows: Very competitive renewable energy costs, Energy Competence, Geographic Location, Land availability and International Reputation.
Dr Wieman said a future hydrogen economy in Oman has the potential to attract energy intensive investments in decarbonised industries, which would help build the country’s carbon-free credentials. Examples of such industries include green hydrogen production as a fuel, hydrogen based ammonia and methanol, and carbon-free synthetic fuel.
In addition, the hydrogen economy will support the growth of an ecosystem encompassing, among other opportunities, storage of hydrogen in deep caverns, pipeline systems, grid injection, and water management. Exports of hydrogen are estimated at $20 billion annually, he added.