Oman's Hydrom Leading the Charge in Green Hydrogen Sector
Key Ideas
- Hydrom, Oman's state-owned company, is spearheading the green hydrogen sector by providing essential infrastructure for investors like Actis.
- Oman is focusing on producing green hydrogen, aiming to become the world's sixth-largest hydrogen exporter by 2030.
- Investments of $20 billion in renewable power and $13 billion in electrolysis and ammonia conversion are projected for Oman's hydrogen ambitions.
- The International Energy Agency predicts that Oman's hydrogen sales will surpass those of liquefied natural gas by 2050.
Oman's state-owned Hydrom, established in 2022, has been tasked with managing the green hydrogen sector, providing crucial infrastructure such as power grid capacity, water, and port facilities. By taking care of these aspects, investors like Actis can concentrate on renewable power generation, deploying electrolyzers, and constructing ammonia plants. The country is predominantly focused on green hydrogen production, aiming to be a major player in the global market. Oman has set a target to become the world's sixth-largest hydrogen exporter by 2030, with expectations that hydrogen sales will eventually surpass those of liquefied natural gas by 2050. To achieve this, significant investments are required, with projections indicating a need for $20 billion in renewable power infrastructure and $13 billion in electrolysis and ammonia conversion technology. The International Energy Agency foresees a promising future for Oman's hydrogen sector, highlighting the country's potential for growth and success in the transition towards sustainable energy solutions.