Green hydrogen developer advances mega projects in Australia and Oman as key shareholders Shell and BP remain invested
InterContinental Energy expects to continue working with its green hydrogen partners Shell and BP on projects in Oman and Australia as the company targets reaching FID before 2030, despite lower energy transition investments by the two oil majors, the developer’s CEO, Alex Tancock, told Hydrogen Economist in an interview.
InterContinental has a 21.16% stake in Green Energy Oman, where Shell is an operator with a 35% stake, alongside the country’s state-owned OQ and Kuwait’s EnerTech. The project is ultimately targeting 1.8mt/yr of green hydrogen production and 25GW of renewable power capacity.
“Ultimately, if we cannot produce a cheaper product over time, the green molecules will never
