MUSCAT, SEPT 16
Australia’s new national blueprint for hydrogen development, recently unveiled by the federal government, presents potential opportunities for collaboration with the Sultanate of Oman, according to the Australian Business Group Oman (ABGO), a non-profit organization promoting trade between the two countries.
The 2024 National Hydrogen Strategy, launched last week by Australian Minister for Climate Change and Energy, Chris Bowen, aims to position the country as a global leader in the production and export of green hydrogen. With funding support of $8 billion, the strategy targets an output of 500,000 tonnes of green hydrogen annually by 2030, increasing to 15 million tonnes per year by 2050.
In a statement, Muscat-based ABG Oman said the new roadmap opens up "exciting opportunities" for collaboration between Australia and Oman in the rapidly growing green hydrogen sector. The group noted that the mutual ambition of both countries to become "hydrogen powerhouses" bodes well for joint cooperation in this field.
The new national strategy, in particular, paves the way for businesses from both countries to explore mutually beneficial partnerships in this emerging sector, said Mac Thomson, Chair of the Australian Business Group Oman.
"Australia is seen by many countries as a leader in renewables and green hydrogen. This updated strategy positions Australia well to attract further international interest," he noted.
Thomson also highlighted Oman’s national strategy for green hydrogen development, which targets investments of over $37 billion by 2030. This shared pursuit of green energy industries reveals "significant potential for synergies" between the two nations, he said.
There is already evidence of green energy collaboration between Oman and Australia, even before last week’s announcement. IDO Investments, the venture capital arm of the Oman Investment Authority (OIA), was among several international strategic and financial investors that recently participated in a funding round launched by Australian electrolyser company Hysata. The Wollongong-based company is developing high-efficiency electrolysers designed to produce green hydrogen at scale with greater energy efficiency and lower costs than alternative technologies.
Additionally, a consortium comprising Australia-based global integrated green energy, metals, and technology company Fortescue, and UK-based sustainable infrastructure investment firm Actis, has been awarded a land block for the development of a major green hydrogen project in Oman’s Dhofar Governorate. The project, powered by renewable solar and wind energy, aims to produce 200,000 tonnes of green hydrogen per year.
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