Fluxys and OQ Gas Networks (OQGN) start a strategic cooperation in Oman to develop low-carbon energy infrastructure
Brussels/Muscat – Today, Fluxys and OQGN signed a Memorandum of Understanding (MoU) to jointly explore a strategic cooperation in the development of hydrogen and CO2 infrastructure projects in Oman.
Today was also the day of the first listing of the OQGN shares at the Muscat Stock Exchange in Oman. Fluxys has acquired a 4.9% stake in OQGN as an anchor investor as part of the stock market introduction of OQGN.
Fluxys and OQGN are both frontrunners in decarbonisation projects and they share the same key strategic focus on accelerating the energy transition.
OQGN is committed to the development to renewable energy and decarbonisation infrastructure in Oman, supporting the country to swiftly become a renewable hydrogen export hub.
Fluxys is committed to connecting new low-carbon energy sources into Europe.
Fluxys and OQGN can leverage on an impressive, combined expertise in an array of key domains driving the infrastructure business in the energy transition.
OQGN holds a natural monopoly over critical gas transportation infrastructure in Oman as the exclusive owner and operator of the Natural Gas Transmission Network (NGTN). OQGN aims to champion the management and development of the NGTN through innovative and sustainable solutions. The Company prioritizes maintaining high standards of operation and maintenance, which is reflected in OQGN’s operational track-record, having delivered 99.99% gas availability over the last 10 years and recorded no gas supply interruptions in 2022. OQGN’s health and safety record is also a testament to its commitment to applicable occupational health and safety standards. OQGN actively considers the interests of society at large and the economic development of Oman in the course of its operations and strives to maximize its engagement in and contribution to communities in Oman and supporting the Government’s efforts towards environmental sustainability.
For more information about OQGN, please visit: https://oqgn.om/