Meed | Team continues Oman hydrogen study

Team continues Oman hydrogen study

2 October 2024

A South Korean/French-led team is continuing the pre-front-end engineering and design (feed) work for a planned multibillion-dollar integrated green hydrogen plant in Duqm in Oman.

The planned facility will have an annual capacity of 220,000 tonnes of green hydrogen.

The project is still in the pre-feed stage and the consortium members are working towards reaching a financial investment decision by 2027, as initially planned.

The consortium members that plan to develop the project are:

Posco Holdings (South Korea)
Engie (France)
Samsung Engineering (South Korea)
Korea Southern Power (South Korea)
Korea East-West Power (South Korea)
PTTEP (Thailand)

The consortium signed a concession agreement in June last year to develop an integrated green hydrogen complex in Oman.

The six-company consortium plans to construct a 5,000MW power plant using solar power and other renewable energy sources, and an ammonia production factory on a 340-square-kilometre site, Posco Holdings said at the time.

It said the ground will be broken for the plants in 2027, and they will be completed in 2030. The total cost, estimated at billions of dollars, will be finalised after a feasibility study.

Posco Holdings owns the largest stake in the consortium, 28%, followed by Engie, 25%. Samsung Engineering, Korea Southern Power and Korea East-West Power each have a 12% interest, with PTTEP holding the remaining 11%.

MEED understands that Posco Holdings, the steelmaker’s investment holding firm, will lead the project and manage the plant-building processes in Oman.

Samsung Engineering will be responsible for the facilities’ engineering, procurement and construction. The other firms in the consortium will either buy or sell the green hydrogen generated by the factory.

https://image.digitalinsightresearch.in/uploads/NewsArticle/12640686/main.gif

Jennifer Aguinaldo