Cooperation agreement inked to develop hydrogen transportation network in Oman
Muscat: OQ Gas Networks (OQGN) has signed a cooperation agreement with Belgium's Fluxys to jointly develop the foundational infrastructure for hydrogen transportation in the Sultanate of Oman.
The agreement was signed by Eng. Mansour Ali Al Abdali, CEO of OQGN, and Pascal De Buck, CEO and Managing Director of Fluxys, during a ceremony held in Muscat under the patronage of Eng. Salim Nasser Al Aufi, Minister of Energy and Minerals.
Under this agreement, the two companies will collaborate on acquiring a minority stake in the hydrogen network and contribute to its operations. Both OQGN and Fluxys share a vision to lead energy transition initiatives, leveraging their integrated infrastructure and shared ambitions to enable the rapid and effective development of hydrogen infrastructure that meets Oman's needs—aligned with the objectives of "Oman 2040" and its hydrogen production goals.
This cooperation agreement strengthens the partnership between OQGN and Fluxys, following a memorandum of understanding (MoU) signed in September 2023 for strategic collaboration in developing hydrogen and carbon dioxide networks in Oman. It also comes after Fluxys acquired a 4.9% stake in OQGN as a key investor during the company's initial public offering (IPO).
This partnership underscores OQGN's commitment to enabling the timely development of decarbonisation infrastructure in Oman and highlights Fluxys' strategy of connecting and investing in new low-carbon energy value chains in countries with high renewable energy potential, while linking them to Belgium and Europe.
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