The French energy company "Engie" was awarded a piece of land in Oman on Wednesday by "Hydrom" to build a comprehensive renewable ammonia plant there and export 1.2 million tons of green fuel to South Korea by the middle of the next decade. The project, valued at approximately $7 billion, involves several South Korean companies in the electricity sector, including "Samsung Engineering" and a subsidiary of (PTTEP), Thailand's national oil company.
The project will include 5 "gigawatts" of wind and solar energy, along with batteries and an electrolyzer that produces 200,000 tons of hydrogen annually, as well as a dedicated pipeline for transporting hydrogen to an ammonia production facility. Oil giants Shell and (BP) have also announced hydrogen projects in the sultanate.
Feasibility studies on wind and solar resources at the project site will be conducted first, with a final investment decision expected by 2027.
