Oman-Korea Partnership for Green Ammonia Production in Duqm
Key Ideas
- A joint venture between Oman and Korea will supply 5 million tonnes of green ammonia to Thailand under a $4.5 billion contract, with plans to construct a green ammonia plant in Duqm, Oman.
- The plant aims to produce 1 million tonnes of green ammonia annually initially, with plans to increase to 2.5 million tonnes, contributing to Oman's ambitions to become a leader in geologic hydrogen.
- Oman's strategic partnerships in green hydrogen and ammonia production align with the country's goal to boost exports and transition to a low-carbon economy, with projections indicating green hydrogen exports could account for 80% of Oman's LNG exports by 2040.
- The projects in Oman, including the green ammonia plant, are part of a larger initiative involving investments from energy giants like Shell and BP, signaling a significant shift towards renewable energy and sustainable practices in the region.
A recent agreement between companies from Oman and Korea has paved the way for the production and supply of 5 million tonnes of green ammonia to Thailand in a deal valued at $4.5 billion. The partnership between Korean green hydrogen company Lupro and Oman's Bait Muscat will see the construction of a green ammonia plant in Duqm, Oman. The plant is scheduled to begin operations by 2027, initially producing 1 million tonnes of green ammonia annually, with plans to scale up to 2.5 million tonnes. This initiative is part of Oman's vision to position itself as a key player in geologic hydrogen. Notably, international energy giants like Shell and BP have also announced hydrogen projects in Oman, with an estimated $38 billion to be invested in various schemes by 2030. Oman aims to use green ammonia and hydrogen production to drive economic growth and transition towards a low-carbon economy. The projects signify a significant step towards sustainability and align with global efforts to reduce carbon emissions and promote renewable energy sources.
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