APOSCO-led consortium has been awarded a $6.7 billion contract for producing green hydrogen in Duqm, Oman. The proposed green hydrogen project will be the world’s largest. POSCO Group, a South Korean steelmaker, owns a 28 per cent majority stake in the consortium’s operation. POSCO indicated in March 2022 that Oman was one of the countries that it was evaluating for hydrogen investment, and the country’s authorities met with POSCO early in 2023.
Samsung Engineering will manage the project’s engineering, procurement and production phases. The consortium includes a French energy group Engie SA, four Korean state power companies and Thailand’s state-owned PTT Exploration and Production Public Company, which will facilitate the production and sale of green hydrogen. Omani authorities, including the country’s energy minister, will sign the deal with the consortium on June 21, 2023. Reportedly, negotiations between the consortium partners regarding the project are ongoing.
The deal is the latest move from POSCO to invest in green hydrogen production. This month, the company has begun operations on a new facility to produce hydrogen-based green steel, the Pohang steel complex. With construction scheduled for completion in 2026, the factory will produce 300,000 tonnes per year of hydrogen-based steel for various uses including heavy industry.
