THE International Energy Agency (IEA) believes that Oman could be one of the biggest green hydrogen and green ammonia suppliers in the world, given its abundant solar and wind resources, reports Fort Lauderdale's Maritime Executive.
Oman is better known for its oil and gas, and its ambitious targets are relatively unique for a country with a fossil-fuel dependent economy, according to IEA.
It uses natural gas for 95 per cent of its power generation, and petroleum exports account for 60 per cent of its export income.
Nonetheless, the nation has a goal of producing one million tonnes of green hydrogen by 2030 and 8.5 million tonnes by 2050 - enough to supply the current H2 demand for all of Europe.
By 2030, rising green ammonia exports and replacement of fossil hydrogen could generate US$2 billion in economic value, rising to double-digit billions over the following decades, iea found.
'Oman is an oil and gas producer country that is taking an enlightened approach to its energy future, with a clear long-term vision and strong net zero ambitions,' said IEA executive director Fatih Birol.
'The IEA is very pleased to be working with Oman on policy and technical matters as the country moves ahead on its journey to a net zero economy and shows other producer countries what is possible.'
SeaNews Turkey
Oman is better known for its oil and gas, and its ambitious targets are relatively unique for a country with a fossil-fuel dependent economy, according to IEA.
It uses natural gas for 95 per cent of its power generation, and petroleum exports account for 60 per cent of its export income.
Nonetheless, the nation has a goal of producing one million tonnes of green hydrogen by 2030 and 8.5 million tonnes by 2050 - enough to supply the current H2 demand for all of Europe.
By 2030, rising green ammonia exports and replacement of fossil hydrogen could generate US$2 billion in economic value, rising to double-digit billions over the following decades, iea found.
'Oman is an oil and gas producer country that is taking an enlightened approach to its energy future, with a clear long-term vision and strong net zero ambitions,' said IEA executive director Fatih Birol.
'The IEA is very pleased to be working with Oman on policy and technical matters as the country moves ahead on its journey to a net zero economy and shows other producer countries what is possible.'
SeaNews Turkey
