Published by Todd Bush on June 28, 2023
As part of the "Hydrom Phase A Round 1" call for projects, the consortium led by ENGIE and POSCO was awarded land block (Z1-02) by Hydrom, the orchestrator and master planner of Oman's green hydrogen industry. Spanning 340 sq km, the concession block is located in Duqm, with downstream elements to be established at the Port of Duqm.
Continuing their alliance which began through the signing of an MoU in March 2022, ENGIE and POSCO have announced their role as spearheads in a consortium designed to mobilize Oman's renewable energy resources through the development of a green ammonia project with a capacity of 1.2 million tonnes per year. Other partners in the consortium include Samsung Engineering, Korea East-West Power Co. (EWP), Korea Southern Power Co. (KOSPO), and FutureTech Energy Ventures Company Ltd. (a subsidiary of PTTEP).
>> In Other News: Mainstream Renewable Power and Ocean Winds Partner on Second Scotwind Floating Offshore Wind Site
The project will include up to approximately*5 GW of new wind and solar capacity, Battery Energy Storage System (BESS) and a renewable hydrogen plant with a capacity of up to 200 ktpa*. The hydrogen will then be transported by a hydrogen pipeline to be built till the port of Duqm where it will feed the ammonia production plant. *1.2 mtpa of green ammonia * will be exported in Korea in 2030.
The project contract will last for a period of 47 years, broken down into a seven-year development and construction phase followed by a 40-year operational period. Construction is projected to begin in 2027, with the first shipment of green ammonia to Korea planned for the second half of 2030. The consortium will carry out the feasibility and technical studies, in order to finalize the total capital expenditure requirement for the project.
"This venture will benefit from ENGIE's industrial expertise. By developing renewable energies, renewable hydrogen and flexible assets such as batteries, this project is perfectly in line with the Group's strategy to accelerate the transition to carbon neutrality. It will contribute to several of our 2030 ambitions: reaching 4 GW of hydrogen capacity and 10 GW of batteries", said Sébastien Arbola, Executive Vice President in charge of Flex Gen & Retail activities.
This project, which reaffirms ENGIE’s commitment to accelerating the Gulf Cooperation Council's low-carbon transition, is also in line with Korea's national decarbonization target, which aims to reduce the country's carbon footprint by 40% by 2030.
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.
Inside This Issue 🔧 America Bets Big on Blue Hydrogen: Inside the Engine Revolution Backed by Top Institutions 🤖 Bringing AI to Carbon Capture: How Imperial College is Revolutionising Plant Operat...
Inside This Issue 💰 Shell, Equinor, Totalenergies to Invest $714 Million in Carbon Storage Expansion 🚢 AiPs Obtained for Liquefied CO₂ Carrier Design and Floating Liquefied Storage Facility 🌱 Stoc...
Inside This Issue 🌍 Innovating the Future: Gautam Swami's Global Journey in Low-carbon Energy and Finance 🌊 Captura Announces Sale of Carbon Removal Credits and Strategic Partnership With Mitsui O...
EFM and Meta Collaborate to Advance Climate-Smart Forestry in Washington State
PORTLAND, Ore.--Yesterday, EFM, a forest investment and management firm, and Meta announced that they have finalized a groundbreaking long-term contract for the delivery of 676,000 nature-based car...
Carbon Direct Releases Criteria for High-Quality Marine CDR in Collaboration with Microsoft
New standards aim to support buyers and developers in advancing scientifically rigorous, scalable mCDR solutions Key Takeaways: New standards for marine carbon dioxide removal (mCDR) – Carbon ...
dynaCERT Applauds the Expansion of the Ontario Hydrogen Innovation Fund
TORONTO – dynaCERT Inc. (TSX: DYA) (OTC: DYFSF) (FRA: DMJ) (“dynaCERT” or the “Company”) applauds the recently announced changes of March 31, 2025, proposed for the Ontario Government Hydrogen Inno...
$28 million project financing, inclusive of the completed sale of the Investment Tax Credit associated with the project, returns cash back to Energy Vault's balance sheet for the first resiliency c...
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.