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In the Hydrogen Investment Index 2021, published by Cranmore Partners, a professional financial advising business for the energy and infrastructure sectors, the Sultanate was rated among the top 25 nations in the world.
The list also featured the Kingdom of Saudi Arabia and the United Arab Emirates, in addition to the Sultanate.
According to the research, Oman’s 2040 strategy calls for the Sultanate to develop a green hydrogen export commodity, diversifying its economy away from oil and gas.
Although the Sultanate’s financial margins have been impacted in recent years by the decline in oil prices and reserves, as well as an increase in production costs, he said the infrastructure market remains active and enjoys good banking services, with recent renewable tenders attracting strong international interest and very competitive prices.
He noted that because the Sultanate, like Saudi Arabia, lacks a carbon price system, the focus would likely be on exporting clean hydrogen or providing to exporting sectors.
He said that, in addition to world-class solar energy resources and plentiful land, the Sultanate has the infrastructure to export ammonia, as well as the second-largest LNG facility in the Middle East, the Qalhat LNG plant.
The index was topped by Germany, which was followed by Spain, which was followed by the United States. More than 350 large-scale hydrogen projects are predicted to exist throughout the world, with $500 billion expected to be invested in projects and the value chain by 2030.
“Hydrogen has been dubbed the future fuel because of its capacity to be generated without net emissions,” he continued, “and green and blue hydrogen will be an essential element of the energy mix in countries as they progressively commit to achieve net zero carbon dioxide emissions by 2050 and 2060.”
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