OQ Gas Networks SAOG (OQGN), the exclusive operator of Oman’s natural gas transmission network, has signed a Term Sheet Cooperation Agreement with Belgium-based energy infrastructure group Fluxys.
This partnership aims to jointly develop a hydrogen transportation network within the Sultanate, with Fluxys intending to own and operate the network as a minority shareholder alongside OQGN.
The agreement builds upon a Memorandum of Understanding signed in September 2023, which outlined strategic collaboration in hydrogen and CO2 network developments in Oman. Fluxys’ acquisition of a 4.9% stake in OQGN during its Initial Public Offering further solidified this partnership.
OQGN and Fluxys share a vision of leading energy transition activities. Their complementary infrastructure and aspirations position them to enable rapid and efficient development of hydrogen infrastructure to meet Oman’s needs, in line with the country’s hydrogen production targets.
This collaboration underscores OQGN’s commitment to enabling the timely development of decarbonization infrastructure in Oman. Simultaneously, it reflects Fluxys’ strategy of investing in new low-carbon energy value chains in countries with high renewable potential, aiming to connect them to Belgium and Europe.
The agreement was signed by Eng. Mansoor bin Ali Al Abdali, CEO of OQGN, and Mr. Pascal De Buck, Managing Director and CEO of Fluxys, at a ceremony held at the Mandarin Oriental Hotel in Muscat. The event was held under the patronage of H.E. Salim bin Nasser Al Aufi, Minister of Energy and Minerals.
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