Energy issues a priority for Oman's economic diplomacy says Foreign Minister

Oman's Foreign Minister Sayyid Badr Albusaidi has set out how the Sultanate's Foreign Ministry is working to enhance economic partnership opportunities in Oman, particularly in the field of energy.

In an article in the latest issue of the “Wealth” newsletter published by the Ministry of Energy and Minerals, Sayyid Badr explains how the Foreign Ministry is working through the Sultanate's missions abroad and in Muscat to engage with all those active in the economic sector, including business owners, financiers and government officials.

Energy and renewable energy are a primary focus for the Ministry, he says.

Sayyid Badr then sets out the many advantages that Oman has in this sector including the Sultanate's strategic location with its extensive coastline along the Indian Ocean beyond the Strait of Hormuz. This means that all of Oman's sea ports, such as Sohar, Salalah and Duqm, are deep-water, oceanic ports. This proximity and ease of access to shipping lanes in the northwest Indian Ocean allow quick and efficient distribution, and helps reduce costs.

He adds that Oman's strategic advantage for developing renewable energy is further complemented by the ample availability of solar and wind energy, as well as plenty of land – key requirements for developing investment in renewable energy.

Sayyid Badr also explains that Oman's well developed diplomatic networks and assets, thanks to which the Sultanate enjoys positive political relations with many countries around the world, are not only an important element in Oman's strategic security, but also offer another key advantage in the development of renewable energy.

In the article, the Minister emphasises that the strength and credibility of Oman's development plans are enhanced by the decision of His Majesty's Government to establish the Oman Centre for Sustainability and to adopt 2050 as the target year for Oman achieving carbon neutrality.

Sayyid Badr says that this wise decision by His Majesty underscores the message that Oman, as one of the first countries to act in this sector, can offer a competitive edge to investors and financiers of economic diversification projects in the country.

He adds that Oman's attractiveness in this field is demonstrated by the number of renewable energy and green economy projects which have been announced, along with the signing of memoranda of understanding and agreements.

Oman, he writes, is emerging as a future global centre for the production and export of green hydrogen.

The “Wealth” newsletter issued by the Ministry of Energy and Minerals is the second to be published this year. It covers various topics on sustainability, energy transition and green hydrogen with contributions from Oman, the Netherlands, Belgium and the International Energy Agency.

This is an unofficial English version of an Arabic report. To view the official Arabic text, click here.