Deemerwha studio/Shutterstock Save for later Print Download Share Some low-carbon hydrogen developments continue to advance around the world, slowly and unevenly, despite deepening questions about the market鈥檚 development. Europe and the Asia-Pacific region are leading the way, with Europe shifting to smaller projects and Asian consumers still figuring out how their generous subsidy-backed programs will work best. Advances in the Mideast and US have been slower. However, last week鈥檚 launch of Oman鈥檚 third green hydrogen auction showed the sultanate is still committed to the clean fuel, even if final investment decisions (FIDs) remain elusive. With improved terms meant to entice new investors, Oman鈥檚 auction will test the industry鈥檚 appetite for a sector still surrounded by question marks. Oil and gas producer Oman is seeking to establish itself as a first mover regionally in the electrolytic (green) hydrogen space by utilizing its abundant land, solar and wind resources, and its proximity to future demand centers in Asia and Europe. It aims to produce up to 1.5 million tons per year of green hydrogen by the end of the decade, with a target capacity of 3.75 million tons/yr by 2040. State-run Hydrom, established in 2022 to implement Oman鈥檚 green hydrogen strategy, has awarded eight project licenses across two bid rounds so far, with a potential collective investment of some $50 billion; none have reached FID.
