Oman and Belgium strengthen green hydrogen ties with new MoU

The MoU was signed by Salim bin Nasir bin Said Al-Aufi, Oman’s minister of Energy and Minerals and chairman of Hydrom Oman, and Tom Hautekiet, chairman of the Belgian Hydrogen Council. Photo/Supplied
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Updated 05 December 2024
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Oman and Belgium strengthen green hydrogen ties with new MoU

RIYADH: Oman and Belgium have expanded their green hydrogen collaboration with the signing of a memorandum of understanding aimed at advancing the global clean energy economy.

The agreement, inked between Hydrom Oman and the Belgian Hydrogen Council, was a key milestone during Oman’s Sultan Haitham bin Tariq Al-Said’s official visit to Belgium, the Oman News Agency reported.

This agreement aligns with Oman’s goal to produce 1 million tonnes of green hydrogen annually by 2030, according to the International Energy Agency’s Renewables 2024 report. The country is one of the few in the Middle East advancing beyond its national targets for low-carbon hydrogen production.

Oman has set its sights on attracting $40 billion in green hydrogen investments by 2030, with that figure expected to rise to $140 billion by 2050. The MoU further supports these aspirations, creating a platform for exchange and collaboration between industrial entities, universities, research institutes, and policymakers in both countries.

The cooperation will focus on analyzing the value chains for importing green hydrogen, developing shipping infrastructure in Oman, and overcoming legislative challenges. Additionally, the deal will promote joint research initiatives and support technical training programs and awareness campaigns to foster green hydrogen adoption.

The MoU was signed by Salim bin Nasir bin Said Al-Aufi, Oman’s minister of Energy and Minerals and chairman of Hydrom Oman, and Tom Hautekiet, chairman of the Belgian Hydrogen Council. 

The signing was witnessed by high-level officials, including Belgian Prime Minister Alexander De Croo, who met with Sultan Haitham bin Tariq earlier this week. During the two-day state visit, both parties discussed enhancing bilateral cooperation in key areas such as energy, security, and infrastructure.

The agreement also follows Oman’s commitment to leveraging its low-cost land for hydrogen production projects aimed at both local industrial needs and export, particularly for ammonia. 

The IEA’s report highlights how hydrogen use in industry and hydrogen-based fuels are significantly contributing to the growth of renewable energy capacity in both Oman and the broader Middle East region.

Through this MoU, Oman and Belgium are further solidifying their positions as global leaders in green hydrogen, setting the stage for a robust partnership in clean energy innovation.


Closing Bell: Saudi main index closes in red at 10,947 

Updated 19 February 2026
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Closing Bell: Saudi main index closes in red at 10,947 

RIYADH: Saudi Arabia’s Tadawul All Share Index dipped on Thursday, losing 208.20 points, or 1.87 percent, to close at 10,947.25. 

The total trading turnover of the benchmark index was SR4.80 billion ($1.28 billion), as 14 of the listed stocks advanced, while 253 retreated. 

The MSCI Tadawul Index decreased, down 25.35 points, or 1.69 percent, to close at 1,477.71. 

The Kingdom’s parallel market Nomu lost 217.90 points, or 0.92 percent, to close at 23,404.75. This came as 24 of the listed stocks advanced, while 43 retreated. 

The best-performing stock was Musharaka REIT Fund, with its share price up 2.12 percent to SR4.34. 

Other top performers included Al Hassan Ghazi Ibrahim Shaker Co., which saw its share price rise by 1.18 percent to SR17.20, and Saudi Industrial Export Co., which saw a 0.8 percent increase to SR2.51. 

On the downside, Abdullah Saad Mohammed Abo Moati for Bookstores Co. was among the day’s biggest decliners, with its share price falling 9.3 percent to SR39. 

National Medical Care Co. fell 8.98 percent to SR128.80, while National Co. for Learning and Education declined 6.35 percent to SR116.50. 

On the announcements front, Red Sea International said its subsidiary, the Fundamental Installation for Electric Work Co., has entered into a framework agreement with King Salman International Airport Development Co. 

In a Tadawul statement, the company noted that the agreement establishes the general terms and conditions for the execution of enabling works at the King Salman International Airport project in Riyadh.  

Under the 48-month contract, the scope of work includes the supply, installation, testing, and commissioning of all mechanical, electrical, and plumbing systems.  

Utilizing a re-measurement model, specific work orders will be issued on a call-off basis, with the final contract value to be determined upon the completion and measurement of actual quantities executed.  

The financial impact of this collaboration is expected to begin reflecting on the company’s statements starting in the first quarter of 2026, the statement said. 

The company’s share price reached SR23.05, marking a 2.45 percent decrease on the main market.