{"id":2201495,"date":"2023-06-26T08:00:36","date_gmt":"2023-06-25T23:00:36","guid":{"rendered":"https:\/\/koreapro.org\/?p=2201495"},"modified":"2023-06-25T16:12:04","modified_gmt":"2023-06-25T07:12:04","slug":"south-korean-consortium-secures-47-year-green-hydrogen-project-in-oman","status":"publish","type":"post","link":"https:\/\/koreapro.org\/2023\/06\/south-korean-consortium-secures-47-year-green-hydrogen-project-in-oman\/","title":{"rendered":"South Korean consortium secures 47-year green hydrogen project in Oman"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">A multinational consortium led by South Korea\u2019s POSCO Holdings has successfully obtained <\/span><a href=\"https:\/\/www.posco-inc.com:4453\/poscoinc\/v3\/kor\/advertise\/s91e5000100v.jsp?onPage=1&amp;topic=&amp;startDate=&amp;endDate=&amp;searchType=&amp;searchValue=&amp;idx=660\"><span style=\"font-weight: 400;\">exclusive rights<\/span><\/a><span style=\"font-weight: 400;\"> to develop and produce green hydrogen in the Duqm region of Oman for 47 years. This venture marks the most extensive overseas green hydrogen project initiated by a Korean company. Alongside POSCO Holdings, the consortium comprises Samsung Engineering, Korea Southern Power, Korea East-West Power, Engie from France, and PTTEP from Thailand.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The consortium\u2019s plan includes the construction of a 5-gigawatt renewable energy complex on a secured site of approximately 131 square miles (340 square kilometers) \u2014 roughly half the total area of Seoul. The complex is designed to produce 220,000 tons of green hydrogen annually. A significant portion of this hydrogen will be synthesized into approximately 1.2 million tons of ammonia for secure and efficient transportation. South Korea will import this ammonia for various applications, including clean energy production and hydrogen reduction steelmaking. The consortium anticipates beginning the construction of renewable energy facilities and green hydrogen and ammonia synthesis plants in 2027, with a target completion date set for 2030.<\/span><\/p>\n<p><i><span style=\"font-weight: 400;\">Dear readers,<\/span><\/i><\/p>\n<p><i><span style=\"font-weight: 400;\">At KOREA PRO, we are committed to providing engaging and informative content tailored to our discerning audience. Recognizing the significance of your perspectives in enriching our offerings, we cordially extend an invitation for your participation in a brief <\/span><\/i><a href=\"https:\/\/docs.google.com\/forms\/d\/e\/1FAIpQLScvzlZJxcMly2_rwvE0IkCy2sS_Vd9F_t7F0dJeUzDW4ropMw\/viewform\"><i><span style=\"font-weight: 400;\">5-minute survey<\/span><\/i><\/a><i><span style=\"font-weight: 400;\">. This opportunity allows us to capture your invaluable feedback and insights, which we greatly appreciate and consider integral to our ongoing commitment to service excellence.<\/span><\/i><\/p>\n<p><b>Why It Matters<\/b><\/p>\n<p><span style=\"font-weight: 400;\">POSCO Holdings\u2019 successful acquisition of rights to develop and produce green hydrogen in Oman comes in the wake of a mutual <\/span><a href=\"https:\/\/en.yna.co.kr\/view\/AEN20221020002600320\"><span style=\"font-weight: 400;\">agreement<\/span><\/a><span style=\"font-weight: 400;\"> between South Korea and Oman in Oct. 2022 to enhance cooperation in energy and new industry sectors, thereby bolstering stable energy supply chains. Given that natural gas constitutes approximately <\/span><a href=\"https:\/\/www.omanobserver.om\/article\/1127194\/business\/energy\/oman-korea-pledge-stronger-ties-in-energy-sector-new-industries\"><span style=\"font-weight: 400;\">80%<\/span><\/a><span style=\"font-weight: 400;\"> of the total trade between the two countries, this venture indicates a substantial shift towards sustainable energy solutions like green hydrogen, potentially decreasing reliance on conventional fossil fuels.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Moreover, the success of POSCO aligns with projected energy consumption patterns on a global and national scale. According to the International Energy Agency, hydrogen is anticipated to contribute to <\/span><a href=\"https:\/\/www.iea.org\/reports\/global-hydrogen-review-2021\/executive-summary\"><span style=\"font-weight: 400;\">10%<\/span><\/a><span style=\"font-weight: 400;\"> of worldwide energy consumption by 2050. South Korea also forecasts that the production and usage of hydrogen could generate <\/span><a href=\"https:\/\/hydex.ac.uk\/business-opportunities\/south-korea\/\"><span style=\"font-weight: 400;\">420,000 new jobs<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, green hydrogen is produced by splitting water with a carbon \u201cfree\u201d source of electricity via <\/span><a href=\"https:\/\/www.energy.gov\/eere\/fuelcells\/hydrogen-production-electrolysis\"><span style=\"font-weight: 400;\">electrolysis<\/span><\/a><span style=\"font-weight: 400;\">, and it is questionable that there is sufficient water available to enable a green hydrogen economy. Oman is one of the driest countries in the world with <\/span><a href=\"https:\/\/climateknowledgeportal.worldbank.org\/country\/oman\/climate-data-historical#:~:text=Oman%20has%20a%20subtropical%2C%20dry,150%20mm%20in%20the%20south.\"><span style=\"font-weight: 400;\">annual average rainfall<\/span><\/a><span style=\"font-weight: 400;\"> ranging from 150 mm to 300 mm in the north while ranging from 50 mm to 150 mm in the south.<\/span><\/p>\n<div class=\"content-tags\"><a href=\"https:\/\/koreapro.org\/tag\/business-economy\/\"><span class=\"tag\">Business &amp; Economy<\/span><\/a><\/div>","protected":false},"excerpt":{"rendered":"<p>A multinational consortium led by South Korea\u2019s POSCO Holdings has successfully obtained exclusive rights to develop and produce green hydrogen in the Duqm region of Oman for 47 years. This venture marks the most extensive overseas green hydrogen project initiated by a Korean company. Alongside POSCO Holdings, the consortium comprises Samsung Engineering, Korea Southern Power, [&hellip;]<\/p>\n","protected":false},"author":10407,"featured_media":2201496,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[30],"tags":[24],"class_list":["post-2201495","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-briefings","tag-business-economy"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>South Korean consortium secures 47-year green hydrogen project in Oman - KOREA PRO<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/koreapro.org\/2023\/06\/south-korean-consortium-secures-47-year-green-hydrogen-project-in-oman\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"South Korean consortium secures 47-year green hydrogen project in Oman - KOREA PRO\" \/>\n<meta property=\"og:description\" content=\"A multinational consortium led by South Korea\u2019s POSCO Holdings has successfully obtained exclusive rights to develop and produce green hydrogen in the Duqm region of Oman for 47 years. This venture marks the most extensive overseas green hydrogen project initiated by a Korean company. Alongside POSCO Holdings, the consortium comprises Samsung Engineering, Korea Southern Power, [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/koreapro.org\/2023\/06\/south-korean-consortium-secures-47-year-green-hydrogen-project-in-oman\/\" \/>\n<meta property=\"og:site_name\" content=\"KOREA PRO\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/nknewsorg\/\" \/>\n<meta property=\"article:published_time\" content=\"2023-06-25T23:00:36+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-06-25T07:12:04+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/koreapro.org\/wp-content\/uploads\/sites\/6\/2023\/06\/posco.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1870\" \/>\n\t<meta property=\"og:image:height\" content=\"1000\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"johnleenknews\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@southkoreapro\" \/>\n<meta name=\"twitter:site\" content=\"@southkoreapro\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"KOREA PRO\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/koreapro.org\/2023\/06\/south-korean-consortium-secures-47-year-green-hydrogen-project-in-oman\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/koreapro.org\/2023\/06\/south-korean-consortium-secures-47-year-green-hydrogen-project-in-oman\/\"},\"author\":{\"name\":\"johnleenknews\",\"@id\":\"https:\/\/koreapro.org\/#\/schema\/person\/b9766dba611638edc06a6e0b7078714d\"},\"headline\":\"South Korean consortium secures 47-year green hydrogen project in Oman\",\"datePublished\":\"2023-06-25T23:00:36+00:00\",\"dateModified\":\"2023-06-25T07:12:04+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/koreapro.org\/2023\/06\/south-korean-consortium-secures-47-year-green-hydrogen-project-in-oman\/\"},\"wordCount\":439,\"publisher\":{\"@id\":\"https:\/\/koreapro.org\/#organization\"},\"image\":{\"@id\":\"https:\/\/koreapro.org\/2023\/06\/south-korean-consortium-secures-47-year-green-hydrogen-project-in-oman\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/assets.korearisk.com\/uploads\/sites\/6\/2023\/06\/posco.png\",\"keywords\":[\"Business &amp; Economy\"],\"articleSection\":[\"Briefings\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/koreapro.org\/2023\/06\/south-korean-consortium-secures-47-year-green-hydrogen-project-in-oman\/\",\"url\":\"https:\/\/koreapro.org\/2023\/06\/south-korean-consortium-secures-47-year-green-hydrogen-project-in-oman\/\",\"name\":\"South Korean consortium secures 47-year green hydrogen project in Oman - KOREA PRO\",\"isPartOf\":{\"@id\":\"https:\/\/koreapro.org\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/koreapro.org\/2023\/06\/south-korean-consortium-secures-47-year-green-hydrogen-project-in-oman\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/koreapro.org\/2023\/06\/south-korean-consortium-secures-47-year-green-hydrogen-project-in-oman\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/assets.korearisk.com\/uploads\/sites\/6\/2023\/06\/posco.png\",\"datePublished\":\"2023-06-25T23:00:36+00:00\",\"dateModified\":\"2023-06-25T07:12:04+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/koreapro.org\/2023\/06\/south-korean-consortium-secures-47-year-green-hydrogen-project-in-oman\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/koreapro.org\/2023\/06\/south-korean-consortium-secures-47-year-green-hydrogen-project-in-oman\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/koreapro.org\/2023\/06\/south-korean-consortium-secures-47-year-green-hydrogen-project-in-oman\/#primaryimage\",\"url\":\"https:\/\/assets.korearisk.com\/uploads\/sites\/6\/2023\/06\/posco.png\",\"contentUrl\":\"https:\/\/assets.korearisk.com\/uploads\/sites\/6\/2023\/06\/posco.png\",\"width\":1870,\"height\":1000},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/koreapro.org\/2023\/06\/south-korean-consortium-secures-47-year-green-hydrogen-project-in-oman\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/koreapro.org\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"South Korean consortium secures 47-year green hydrogen project in Oman\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/koreapro.org\/#website\",\"url\":\"https:\/\/koreapro.org\/\",\"name\":\"KOREA PRO\",\"description\":\"Be smart about South Korea. 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