Two leading developers of green hydrogen projects in Oman have pulled the plug on their projects. During his keynote address to Oman’s Green Hydrogen Summit on 1 December, Managing Director of state hydrogen firm Hydrom Abdulaziz al-Shidhani confirmed “two projects were concluded by mutual agreement following developer reassessment in response to market dynamics.”
This includes BP’s 150,000 t/y, 3.5GW green hydrogen project and the Posco-Engie 200,000 t/y 5.2GW project, both awarded during the first bid round in 2023 (MEES, 23 June 2023). The loss of 350,000 t/y of planned green hydrogen production is a massive blow to Oman’s goal of reaching 1mn t/y output by 2030 (MEES, 2 May). BP’s decision is in line with its recent strategic reset which has shifted its focus back to oil and gas, but it is still the lead investor in the smaller 60,000 t/y Hyport pilot project in Duqm (BP 49%, OQAE 25.5%, Deme 25.5%). (CONTINUED - 232 WORDS)