Oman’s state-owned green hydrogen orchestrator Hydrom has signed a Memorandum of Understanding (MoU) with Germany-based H2Global Foundation to explore market-based mechanisms that could accelerate the Gulf state's ambitions to become a hydrogen exporter by 2030.

The partnership will evaluate how H2Global’s double-auction mechanism could help Oman structure competitive projects, secure offtake agreements, and stimulate international trade in clean fuels, the H2Global Foundation said in a statement.

Under H2Global’s model, an intermediary company - Hintco - signs long-term purchase contracts with producers and short-term sales contracts with buyers, bridging the price gap through public funding, climate finance, or private investment.

Markus Exenberger, Executive Director at the H2Global Foundation said: “Oman can combine its ambitious hydrogen roadmap with H2Global’s proven market model to create price signals and secure offtake.”

Abdulaziz Al Shidhani, Managing Director at Hydrom said: “Oman’s approach to hydrogen is built on clear structures, long-term vision, and credible delivery. Exploring models like H2Global allows us to test and refine our own systems, ensuring that as global mechanisms evolve, they remain interoperable with what we are building.”

Last year, Abu Dhabi-listed Fertiglobe secured a green ammonia offtake agreement with Hintco through the first H2Global pilot auction for renewable ammonia, funded by Germany's Federal Ministry for Economic Affairs and Climate Action (BMWK).

The German government has committed €4.43 billion to H2Global’s ‘double-auction’ mechanism to facilitate the rapid expansion of renewable hydrogen and derivative products. 

Hydrom's third auction round, which closes on 31 October 2025, offers up to 300 square kilometres in Duqm, with bidders able to propose projects covering at least 100 square kilometres. 

(Writing by Sowmya Sundar; Editing by Anoop Menon)

(anoop.menon@lseg.com)

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