Oman is positioned to become a global sustainability leader by capitalizing on its green economy potential, according to Eng Abdulaziz bin Said al Shaithani, Managing Director of Hydrom, during GH2 Investor Day. He highlighted how Oman’s focus on green hydrogen production and sustainable industries could reshape its economy, fostering long-term resilience and diversification beyond oil and gas.
Driving Economic Growth
Eng Al Shaithani stressed that the green economy could unlock new avenues for economic growth by encouraging industry localization, economic diversification, and reducing reliance on oil and gas. This transition would protect Oman from fluctuating energy prices while promoting sustainability.
“The green economy fosters resilience, decarbonization, and diversification, paving the way for a stable and prosperous future,” he said.
Hydrogen as a Key Driver
At the core of Oman’s sustainability efforts is hydrogen production. The nation aims to produce 1.0 to 1.5 million tonnes of green hydrogen by 2030, with plans to scale up to 3.3–3.8 million tonnes by 2040 and 7.5–8.5 million tonnes by 2050.
According to Al Shaithani, this growing sector can spur development across various industries:
- Mining Hub: Green energy can power mining operations, providing essential minerals for renewable energy and hydrogen production.
- Industrial & Technological Hub: Oman’s renewable energy can attract heavy industries and drive innovation.
- Renewables & Hydrogen Hub: Oman could export green hydrogen derivatives, supporting shipping and decarbonization efforts.
- Agricultural Hub: Excess electricity and water from hydrogen production could boost agriculture and food security.
- Tourism Hub: Sustainable tourism initiatives could protect Oman’s environment and promote eco-tourism.
- Bunkering & Logistics Hub: Oman could serve as a sustainable fuel hub for the global maritime industry.
“Hydrogen is just the beginning,” Al Shaithani noted. “The green economy opens doors to diverse opportunities, from transport to agriculture.”
Strategic Vision
Oman’s green economy plans align with Vision 2040, which prioritizes renewable energy, economic diversification, and job creation. Al Shaithani emphasized that this integrated approach will strengthen Oman’s economic growth and global standing in sustainability.
Since 2022, Oman has signed eight green hydrogen agreements valued at $50 billion. These projects are expected to deliver 18 GW of renewable energy and produce 1.5 million tonnes of green hydrogen by 2030, reinforcing Oman’s ambition to become a leading force in clean energy.
