Oman and Hungary signed a Memorandum of Understanding (MoU) in the field of low-carbon hydrogen and renewable hydrogen on Tuesday.
H E Sayyid Badr bin Hamad al Busaidi, Foreign Minister, met Peter Szijjártó, Hungarian Minister of Foreign Affairs and Trade, on the sidelines of the 27th Joint EU-GCC Council programme in Muscat.
The meeting included a review of bilateral relations between the two friendly countries and discussions on various aspects of cooperation and ways to enhance these, especially in areas of trade and economic diversification. Renewable energy and green hydrogen production were high on the meeting agenda. The two sides also discussed several regional and global issues.
Based on the keenness of the two friendly countries to continue strengthening and developing cooperation, an MoU was signed between the two sides in the field of low-carbon hydrogen and renewable hydrogen.
Oman aims to become a world leading producer and exporter of green hydrogen. The sultanate’s target is to produce at least 1mn tonnes of renewable hydrogen a year by 2030, 3.75mn tonnes by 2040 and up to 8.5mn tonnes by 2050.
It has signed several major agreements this year awarding green hydrogen projects. To date, Oman has awarded five large-scale green hydrogen projects, accounting for a total investment of more than US$30bn.
The meeting was attended by H E Munther bin Mahfouz al Mandhari, Head of European Department in Foreign Ministry, H E Sheikh Ahmed bin Hashel al Maskari, Head of GCC and Regional Cooperation Department in Foreign Ministry, and several senior officials from both sides.
Source: Muscat Daily