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Oman develops new energy transition strategy: Oman’s Ministry of Energy and Minerals (MEM) is working with public and private organizations to develop a new energy transition strategy to reach carbon neutrality by 2050 in line with Oman Vision 2040, Oman News Agency reported on Saturday. The strategy will cover the areas of energy efficiency, renewables, hydrogen, and carbon capture.
The five pillars: Oman’s new energy transition strategy will build upon five pillars;
- Ensuring the supply of energy supplies;
- The orderly roll out of decarbonization efforts across the sultanate;
- Building local supply chains to enable energy transformation;
- Building a low-carbon economy;
- Maintaining Oman’s competitiveness in the global energy market.
The details: Oman aims to increase the share of renewables to 30% by 2030, 70% by 2040, and 100% by 2050. The country also plans to improve energy efficiency to 6MJ per USD of GDP by 2050, , Director of Electricity and Energy Efficiency Policies and Strategies at the Ministry of Energy and Minerals Maryam bint Mohammed Al Hashimi told ONA in a statement. Further plans include selling only zero-emissions vehicles by 2050 and producing 1 mn tons of green hydrogen by 2030, 3.5 mn tons by 2040, and 9 mn tons by 2050.
MEM’s been busy this year: MEM launched a digital platform that aims to attract investments to the energy sector called Taqa in June. Earlier in March, MEM said Oman was set to invest between USD 40 to 60 bn by 2030 in green hydrogen production and its needed common-use infrastructure — up from the USD 20-30 bn announced last year. Also in March, MEM, Hydrom, OQ Gas Networks, and the Port of Duqm met with a delegation from Dutch energy network operator Gasunie with the aim of exploring collaboration opportunities in green hydrogen.
