Oman, Belgium partner to develop renewable hydrogen hub
SUMMARY
The Belgian company has committed to acquire a 4.9% stake in OQGN.
By Shardul SharmaFluxys, a Belgian energy infrastructure company, and OQGN, Oman's state-owned transmission system operator, have signed a memorandum of understanding (MoU) to explore areas of strategic cooperation in the development of Oman's hydrogen and CO2 infrastructure, Fluxys announced on September 18. The Belgian company has also committed to acquire a 4.9% stake in OQGN.
Fluxys believes that Oman has a major renewable energy potential, with some of the best solar and wind conditions in the world. It is also strategically located with access to hydrogen import markets. The Omani government is strongly supportive of the development of a renewable hydrogen sector, and there are currently nine hydrogen projects under development in the country, the company said.
“Fluxys' investment in OQGN and the MoU between the two companies will help to accelerate the development of Oman's renewable hydrogen sector and bring renewable hydrogen to Belgium and Europe,” it said.
The listing of OQGN shares on the Muscat Stock Exchange is expected to take place in October 2023, subject to receiving the required regulatory approvals.
