In a significant move towards Oman’s vision of becoming a global leader in renewable hydrogen production, Fluxys, a prominent energy infrastructure company, has committed to acquiring a 4.9% stake in OQGN, a state-owned transmission system operator in Oman. This partnership aims to harness Oman’s abundant wind and solar resources for a sustainable future.
Oman stands as a renewable energy powerhouse, boasting some of the world’s most favorable conditions for solar and wind energy generation. Furthermore, Oman’s strategic geographical location, with its well-positioned ports on established sea trading routes, provides excellent access to hydrogen import markets. Fueled by robust government support, the nation is currently implementing a substantial investment plan that encompasses nine hydrogen projects in various stages of development.
The journey towards Oman’s renewable hydrogen future gained momentum in September 2021 when the ministers of energy from Belgium and Oman signed a Memorandum of Understanding (MoU). This agreement aimed to promote and develop renewable hydrogen projects collaboratively. Belgian entities, including the Port of Antwerp-Bruges and DEME, have already established a significant presence in Oman’s Port of Duqm and the burgeoning hydrogen sector.
At the heart of Oman’s 100% renewable hydrogen strategy lies OQGN, poised to play a pivotal role in the development of the nation’s renewable hydrogen and CO2 networks. This strategic acquisition aligns seamlessly with Fluxys’ overarching strategy, focusing on connecting and investing in new low-carbon energy value chains, with a specific emphasis on hydrogen and CO2 routes connecting Oman to Belgium and Europe.
Fluxys and OQGN are at the forefront of decarbonization projects and share a common vision for a renewable future. Their infrastructure and projects complement each other seamlessly, solidified by a strategic MoU that underlines their collaborative ambition to advance hydrogen, CO2, and green gas infrastructure in Oman.
