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Sunday, 28 May 2023

Oman is looking to partner with South Korea on green hydrogen, renewables, and minerals + KSA is strengthening green cooperation with Azerbaijan

Oman courting Korean interest in green fuel and renewables sectors: A Omani delegation is in South Korea to meet with government officials and private sector firms to explore potential partnerships in green hydrogen, renewables, transport, and minerals, The Times of Oman reported on Saturday. The visit — headed by undersecretary of Oman’s Energy and Minerals Ministry Mohsin bin Hamad Al Hadhrami — included meetings with representatives from Samsung, Hyundai, Posco, and SK with aims to advance Omani plans to invest in energy and develop local value chains. Hadhrami also discussed investment opportunities in hydrogen production and related technologies with Korean officials.

KSA + Azerbaijan looking to increase green cooperation: Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman signed an agreement with Azerbaijani counterpart Parviz Shahbazov to expand cooperation in renewable energy and develop new potentials in carbon capture and storage projects, the Saudi Press Agency reported last week. The agreement includes collaborating on research and organizing working sessions, panel discussions, seminars, and multilateral conferences in the energy field.

There is already cooperation in place: Saudi renewables giant Acwa Power is developing a 240 MW wind farm in Azerbaijan with a reported investment of USD 300 mn. Acwa Power signed a cooperation agreement with Azerbaijan that will see the company set up a 1.5 GW offshore wind energy project as part of a plan to build wind farms with a combined capacity of 2.5 GW and develop the country’s first battery storage systems.

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