Monday, December 04
04:14 AM

Oman investing US$30bn in hydrogen economy 

15 Oct 2023 Oman investing US$30bn in hydrogen economy

Muscat – Oman is investing more than US$30bn in hydrogen production, aiming to become one of the largest producers in the world by 2030. Utilising solar and wind energy for electricity generation, the sultanate is currently working on a strategy of orderly transition to zero neutrality and is committed to lowering emissions by 21% by 2030.

H E Salem bin Nasser al Aufi, Minister of Energy and Minerals, has detailed Oman’s comprehensive plan to achieve carbon neutrality by 2050. This national initiative prioritises clean energy growth, green projects and green hydrogen. “Our energy sector plays a pivotal role in mitigating climate change and reducing emissions,” he said. The minister added that increased energy efficiency in buildings and vehicles will cut down fuel consumption. Additionally, green transportation solutions like electric cars are being promoted.

Investments in green hydrogen align with Oman’s ambitions. According to H E Aufi, this will not only bolster Oman’s position in the hydrogen market but also support Oman Vision 2040 objectives to diversify the economy and minimise carbon footprint.

The sultanate is making significant progress in green hydrogen development, with bidding agreements already in place. The minister also discussed the role of Oman Sustainability Centre, an entity that will monitor and ensure the progress of the national zero-neutrality plan.

Dr Abdullah bin Ali al Amri, Chairman of Environment Authority, affirmed Oman’s commitment to the Paris Agreement on Climate Change. “Since adoption of the national strategy for zero neutrality in 2022 and the announcement of the year 2050 for zero neutrality, a specialised team has been working across sectors including oil, gas and transportation to identify key initiatives for reducing emissions.”

Oman will submit an environmental performance report to the United Nations in November, covering areas like reducing emissions, climate adaptation and biodiversity. 

© 2021 Apex Press and Publishing. All Rights Reserved. Powered by Mesdac