MUSCAT, AUG 24
As Oman prepares to host the Green Hydrogen Summit later this year, the spotlight is firmly on, among other imperatives, foreign direct investment (FDI), bankability of projects and the international partnerships needed to anchor the Sultanate of Oman as a global player in the energy transition.
Dr Firas al Abduwani, Director General of Renewable Energy and Hydrogen at the Ministry of Energy and Minerals, emphasised that Oman is putting investor confidence at the heart of its green hydrogen strategy.
The financial viability of projects will ultimately dictate the pace and scale of development, he said in an interview with The Energy Talks. “That’s why we are prioritising the fundamentals — bankability, clear regulations for foreign investors, predictable taxation and transparent land allocation. These are the reassurances international financiers look for and Oman is working to provide them”.
According to the official, Oman’s track record as a reliable energy hub gives it an edge in securing such backing. Having hosted mega oil and gas projects in the past, the country is no stranger to attracting large-scale financing through global banks, export credit agencies and institutional investors. What is different now is the type of project — low-carbon, renewables-driven ventures that appeal to financiers committed to green and ESG-linked investments, he noted.
Significantly, many developers are already bringing their own financiers, either through support mechanisms from their home governments or through institutions focused on climate finance. Domestically, the Ministry of Finance is advancing green bond initiatives under the Estidama framework, signalling Oman’s intent to create aligned financing pathways, he said.
“The Green Hydrogen Summit provides the right platform”, he explained. “It brings together financiers, developers, policymakers and local banks to build confidence that projects are structured to succeed — even when renegotiations are needed due to shifting market dynamics”.
Oman’s fundamentals also strengthen its case: world-class renewable energy resources, a stable political and regulatory landscape, a rebounding economy with improved sovereign credit ratings and a strategic geography that connects East Asia with Europe. “Oman has always honoured its obligations”, Dr Al Abduwani emphasised. “That reliability is a competitive advantage for investors”.
Beyond financing, the success of Oman’s green hydrogen drive also hinges on strategic international collaboration, the official pointed out. The country is rapidly building on its legacy LNG and hydrocarbon trading relationships to forge new hydrogen corridors and partnerships. Recent highlights include the planned liquid hydrogen corridor to Amsterdam, an agreement via the Port of Rotterdam securing access to German markets and expanded partnerships with the UK, US, Korea, Japan and increasingly China.
“It’s really about matchmaking between exporters and importers”, he explained. “These partnerships aren’t only about molecules — they’re about technology transfer, energy security and shared decarbonisation goals”.
Dr Al Abduwani pointed to Belgium as a case in point. In addition to opening a channel into Europe, Belgium’s energy infrastructure group Fluxys has also become a direct strategic investor in Omani gas transportation operator OQGN, motivated in part by the green hydrogen opportunity. In Asia, Korea and Japan remain long-term partners, while China’s growing interest promises scale. “All these nations see mutual benefit. The challenge is in defining the right modalities — market volumes, hydrogen vectors and subsidy structures. These are complex, evolving questions”, he said.
Global platforms like Germany’s H2Global, which now serves as a neutral facilitator of buyer–supplier agreements, illustrate the potential for structured collaboration. “Whether through H2Global or other mechanisms, these forums are essential”, he said.
Few countries will achieve self-sufficiency in green hydrogen, he added, underscoring Oman’s ambition to position itself as a trusted partner. “Our goal is to create an ecosystem attractive to investors, bankable for financiers and beneficial for our international partners. The Summit is where those pieces come together”.
