Cooperation agreement inked to develop hydrogen transportation network in 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.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Times of Oman
32 minutes ago
- Times of Oman
GCC conference on Human Resources Productivity opens in Salalah
Salalah: The 14th GCC Conference for the Development of Human Resources Productivity opened today at the Sultan Qaboos Youth Compound for Culture and Entertainment in Salalah, under the patronage of HH Sayyid Marwan bin Turki Al Said, Governor of Dhofar. The 2-day conference focuses on four main themes, namely the relationship between emotional intelligence and artificial intelligence in enhancing productivity, the impact of emotional intelligence on occupational health and safety, the role of technology in improving performance, in addition to emotional intelligence as a tool for successful leadership. The first day's programme included sessions that discussed the role of emotional intelligence in the present and future, and ways to build a work culture based on emotional intelligence. It also featured a discussion session on the experiences of institutions, and interactive workshops that dealt with the use of emotional intelligence in motivation, providing feedback, and enhancing group productivity. On its second day, the conference will continue with specialized sessions on the relationship between emotional intelligence and artificial intelligence, effective leadership, measuring productivity and ways to develop it, in addition to interactive meetings and dialogues with leaders in the field of human resources development. The conference is organized by Al Asayel Conferences in cooperation with the Ministry of Labour, the Office of the Governor of Dhofar, and the Dhofar branch of Oman Chamber of Commerce and Industry, It aims to raise awareness on the importance of emotional intelligence in work environments and providing practical strategies to enhance productivity, as well as coming up with a platform for exchanging regional and global experiences and expertise.
Times of Oman
2 hours ago
- Times of Oman
Euromoney awards Bank Muscat the 'Best Bank in Oman' title
Muscat: In recognition of its outstanding achievements and leadership in providing best-in-class banking services and facilities to both individual and corporate customers, Bank Muscat, the leading financial services provider in the Sultanate of Oman, has been honored with the Best Bank in Oman Award at the Euromoney Awards for Excellence, a globally renowned platform that recognizes top performing institutions. This accolade marks another milestone in the Bank's distinguished journey spanning over four decades, underscoring its pioneering role in the country's banking sector and its continued excellence in delivering innovative financial solutions across the region. The award was granted based on Euromoney's stringent eligibility and selection criteria, which include the Bank's financial performance over the past year, market capitalization, sales volume, asset size, profitability, and the Bank's contribution to product development and the delivery of banking services and facilities. This recognition highlights Bank Muscat's pivotal role in advancing the financial landscape through a broad suite of banking services, facilities, and solutions tailored to meet evolving customer needs and enhance their banking experience. It also reflects the Bank's wider contributions to society and the national economy, notably through its sustainability and corporate social responsibility (CSR) initiatives. These efforts support key areas such as education, entrepreneurship, and youth empowerment, embodying the Bank's holistic vision and integrated role in driving sustainable development. These contributions reflect the Bank's pioneering roles beyond its conventional roles as a leading financial services provider, aligning with the national objectives outlined in Oman Vision 2040. Bank Muscat holds a prominent position not only in Oman but also in the wider Middle East region. Its commitment to addressing the diverse banking needs of its customers is evident in its continuous development of products and services that align with current and future expectations. The Bank also places a strong emphasis on human capital development, offering a wide range of training and professional development opportunities to its workforce comprising over 4,000 employees, all dedicated to delivering top-tier service. In the corporate space, Bank Muscat maintains a strong presence, serving customers from large corporates and SMEs across various sectors, including investment, treasury, asset and wealth management, and private banking. It also operates the largest network of branches and ATMs in the Sultanate, with 190 branches and approximately 900 ATMs, cash deposit machines, and multifunctional banking devices spread across all governorates. This network provides a wide range of accessible banking services to the Bank's diverse customer base. The Bank plays an integral role in promoting financial inclusion through its innovative services and products, developed in line with global banking trends. It has also made significant investments in enhancing its digital channels, offering an expanded suite of online and mobile banking services that have seen widespread adoption due to their convenience, time-saving features, and ability to meet customer expectations. Bank Muscat continues to earn accolades from local, regional, and international financial communities for its exceptional performance, commitment to service excellence, and significant contributions to digital transformation and corporate responsibility. Recently, the Bank was ranked amongst Forbes Middle East Top Companies 2025, received the Best Bank in Oman Award from Global Finance, was named the Best Digital Bank in Oman by Euromoney, and earned the Best Bank in Oman for Sustainable Development Award at the Finance Derivative Awards Program.
Times of Oman
2 hours ago
- Times of Oman
Oman's most expensive penthouse sold for over OMR 2 million
Muscat: The Arc at The Sustainable City – Yiti has set a new national record with the sale of Oman's most expensive penthouse, priced at over OMR 2 million. This landmark transaction was part of a surge in early demand that has driven total phase one sales past OMR 10 million, all secured within weeks of unveiling the project and before the official launch event next month. The achievement underscores Oman's growing appetite for sustainable, high-end living. The record-breaking penthouses occupy a prime position at the Arc, offering uninterrupted panoramic views of the sea, mountain, and marina. The residence is approached through a private entrance lobby and unfolds into expansive, open-plan entertaining spaces anchored by a statement show kitchen. Every detail is meticulously curated، from bespoke interiors with designer fittings to hand-selected, premium materials. An expansive outdoor terrace with a private pool, and a dedicated gated parking, reserved solely for the penthouse owner, introduces a first-of-its-kind luxury in Oman's residential market. 'This is a defining moment for Oman's real estate sector,' said Mahmoud Shehada, Chief Sales and Marketing Officer of The Sustainable City - Yiti: 'To secure the nation's most expensive penthouse sale alongside more than OMR 10 million in total phase one sales before our official launch speaks volumes about the demand for sustainable luxury living. It reflects the confidence of regional and global buyers in our vision where lifestyle, legacy, and long-term investment value are seamlessly integrated.' With significant interest from global investors and Omani nationals following the reveal of The Arc, this achievement reaffirms Oman's appeal as a destination for high-quality, purpose-led real estate. The Sustainable City – Yiti is set to be Oman's first community designed to meet net-zero emissions targets by 2040. Its live-work-thrive model brings together renewable infrastructure, walkable neighbourhoods, wellness and equestrian facilities, retail, education, hotels, and more. Spanning nearly one million sqm, the development is committed to 100% water recycling, 100% waste diversion from landfills, and achieving 80% self-sufficiency in food production.
