Oman and Türkiye Forge Strategic Energy Pact: Key Opportunities for Investors and Entrepreneurs
MUSCAT: The Sultanate of Oman and the Republic of Türkiye have taken a pivotal step in strengthening their bilateral relations by signing a comprehensive Memorandum of Understanding (MoU) in the energy sector. This significant agreement, formalised in Muscat, aims to enhance technical collaboration, boost investment, and support both nations in their transition to sustainable energy systems.
The MoU was signed by Eng. Salim bin Nasser al Aufi, Oman’s Minister of Energy and Minerals, and Alparslan Bayraktar, Türkiye’s Minister of Energy and Natural Resources.
This agreement encompasses essential areas of cooperation, including oil and gas exploration, liquefied natural gas (LNG) trade, renewable energy development, energy efficiency, and alternative fuels. It also emphasizes advancing joint projects in green hydrogen production and carbon capture technologies, which are vital in the global effort towards decarbonisation.
Under the terms of the MoU, both countries commit to sharing technical expertise and policy insights, developing regulatory frameworks to improve energy efficiency, and exploring innovative technologies and financing mechanisms for clean energy infrastructure. It also promotes the organisation of technical seminars and joint events to foster dialogue and knowledge exchange.
Minister Al Aufi remarked that this agreement underscores the longstanding strategic partnership between Oman and Türkiye, stating that such cooperation would further Oman’s national objectives regarding energy diversification and carbon neutrality while reinforcing the Sultanate’s role as a regional energy hub.
“This memorandum marks a significant milestone in Oman’s energy transformation strategy. It will facilitate impactful partnerships, particularly in renewable energy, carbon capture, and green hydrogen—components central to our long-term energy goals,” Al Aufi noted. He reiterated Oman’s dedication to fostering international collaborations that support sustainable development, encourage investment, and promote the sharing of knowledge and innovative solutions.
Minister Bayraktar echoed these sentiments, highlighting that the MoU will enhance bilateral cooperation across various aspects of the energy sector. He expressed Türkiye’s interest in Oman’s extensive oil and gas resources, identifying opportunities for joint exploration projects and collaboration in renewable electricity generation, power transmission, and market liberalisation.
Bayraktar also recalled the 2022 long-term agreement for supplying Omani LNG to Türkiye, expressing his desire to increase volumes and deepen cooperation in this area. “We view Oman as a reliable energy supply partner and aim to elevate our relationship to a more strategic level,” he stated.
Both ministers concurred that this MoU paves the way for promising new opportunities in economic integration, energy security, and sustainability. It also reflects the collective diplomatic commitment of both nations to address pressing global challenges, such as climate change and energy transition.
The agreement is projected to enhance trade volumes in the energy sector and act as a catalyst for innovation and investment in both economies. — ONA
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The recent MoU between Oman and Türkiye signifies a pivotal shift in the energy landscape, creating unprecedented opportunities for businesses in renewable energy, carbon capture, and LNG trade. Companies should brace for increased investment flows and collaborative projects, particularly in green technologies, while remaining aware of the risks associated with transitioning energy systems. Smart investors and entrepreneurs should focus on building partnerships in sustainable energy initiatives to capitalize on this transformative wave.
