Oman targets $140bln investment in green hydrogen industry

Oman targets $140bln investment in green hydrogen industry

The Sultanate of Oman, represented by the Ministry of Energy and Minerals, unveiled on Sunday its ambitious Green Hydrogen Strategy – an initiative that envisions an estimated $140 billion in investment in a new low-carbon energy industry.

The Ministry also formalised the established of a new hydrogen-centric energy company, HYDROM, that will oversee the country’s vision for the growth of a green hydrogen based energy future.

The announcements came at a media briefing held under the auspices of Eng Salim bin Nasser al Aufi, Minister of Energy and Mineral, in which he underlined Oman’s new climate commitment and its ambitious green hydrogen strategy. Under the leadership of His Majesty Sultan Haitham bin Tarik, Oman has committed to reaching Net-Zero Emissions in 2050, in line with the Paris Agreement’s objectives of limiting global warming to 1.5°C compared to pre-industrial levels. To lead its transition towards a green economy, His Majesty has mandated the creation of Oman Sustainability Centre. The centre will be the leading body undertaking the supervising and follow-up plans and programmes of carbon neutrality.

Eng Al Aufi said “Oman is committed to decarbonise and help the world decarbonise. The pathway to net-zero is an opportunity for Oman to create economic value, increase