BUSINESS

Oman, Japan ink pact in energy field, extend MoU in oil and gas sector

Muscat: The Sultanate of Oman, represented by the Ministry of Energy and Minerals, and Japan, represented by its Ministry of Economy, Trade and Industry, signed a Memorandum of Understanding (MoU) in the field of hydrogen, fuel ammonia and carbon recycling that includes Methanation.

The two sides also signed the third extension of the MoU signed between the Ministry of Energy and Minerals and the Japan Organization for Metals and Energy Security in the field of crude energy, natural gas and clean energy.

The MoUs were signed by Eng. Salim Nasser Al Aufi, Minister of Energy and Minerals and Yasutoshi Nishimura, Japanese Minister of Economy, Trade and Industry.

The first MoU aims to accelerate the Oman-Japan energy and resources cooperation and acknowledge the continued role and contribution of the Sultanate of Oman to Japan’s energy security.

The MoU will support efforts within multilateral fora to accelerate cooperation, exchange information and research results and hold workshops, trade missions, site visits and working groups in the field of hydrogen, fuel ammonia and carbon recycling that includes Methanation.

Moreover, the term of the third extension of the MoU is from January 9, 2023, and for three years, thus enhancing collaboration in dealing with commercial and technical issues pertaining to clean energy.

This MoU was first signed on January 9, 2014, in confirmation of the two sides’ mutual intention and desire to promote and develop cooperation in the field of crude oil, natural gas and clean energy development based on reciprocal benefits.

Al Aufi expressed his hope that those MoUs will contribute to the exchange of expertise and striking new partnerships in the field of hydrogen, fuel ammonia and carbon recycling that includes Methanation between the two countries.

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