The agreement builds on a 2023 memorandum of understanding (MoU) between the two entities, which outlined plans for collaboration on hydrogen and CO2 network development in Oman. Additionally, Fluxys acquired a 4.9% stake in OQGN as an anchor investor, strengthening their partnership. The collaboration focuses on sharing expertise to support the timely development of infrastructure for low-carbon energy in Oman.
OQGN aims to facilitate the growth of decarbonization infrastructure to meet Oman’s energy transition goals. Meanwhile, Fluxys is focused on investing in low-carbon energy systems in countries with strong renewable energy potential, connecting these resources to Belgium and broader European markets. The partnership will combine the companies’ knowledge and experience to create efficient and reliable hydrogen transport solutions.
Mansoor bin Ali Al Abdali, CEO of OQGN, commented on the collaboration: “We are very excited to work with Fluxys in jointly developing the hydrogen transportation network in Oman, and supporting Oman’s green hydrogen and decarbonisation initiatives. This cooperation is a clear signal of our commitment as the national energy infrastructure company in leading the development and deployment of green hydrogen infrastructure to support Oman’s energy transition goals and aspirations. Together with Fluxys, we will leverage our considerable joint experience and capabilities meeting Oman’s requirements for hydrogen transport infrastructure and realising the national agenda in a cost-effective manner.”
Pascal De Buck, Managing Director and CEO of Fluxys, expressed enthusiasm for the partnership: “We are delighted to partner with OQGN in developing a new hydrogen transportation network in Oman. As a shareholder of OQGN, this collaboration is a pivotal step in our strategy to accelerating the energy transition and creating new value chains. By harnessing our combined expertise, we aim to bring renewable hydrogen to Belgium and Europe, while also significantly contributing to Oman’s sustainable energy goals. Together, we are committed to creating a brighter, greener energy future.”
