The Sultanate of Oman and the Kingdom of Spain have signed four memoranda of understanding (MoUs) in the fields of green methanol, liquefied natural gas (LNG), water and wastewater management, and economic cooperation.
The signings took place in Madrid within the context of the state visit of His Majesty Sultan Haitham bin Tarik to the Kingdom of Spain. The MoUs aim to develop trade and investment relations between the business communities of the two countries.
4 strategic Oman-Spain MoUs
The first MoU was signed between Oman Chamber of Commerce and Industry and the Spanish Chamber of Commerce, Industry, Services, and Navigation.
It aims to expand cooperation between the private sectors in both countries, encourage the exchange of trade delegations, organize joint exhibitions and seminars, exchange economic and commercial information, and support bilateral investments.
The second MoU, signed by Nama Water Services with the Spanish company ‘Aguas de Valencia‘, aims to enhance cooperation in water and wastewater management and implement innovative solutions based on artificial intelligence to improve service quality, reduce water loss, and enhance infrastructure efficiency.
Image Credits : ONA | Cropped by GBN
Under the MoU, a pilot project for leak detection in Nama Water Services’ network will be launched, alongside a study on non-revenue water from technical, commercial, and operational perspectives. The agreement also paves the way for a potential 10-year partnership to implement comprehensive water and wastewater projects. This collaboration strengthens Oman–Spain cooperation in the water sector, promoting knowledge exchange, advanced technologies, and sustainable water resource management.
The third MoU, signed by Oman LNG Company with the Spanish company ‘Naturgy‘, aims to explore and discuss a long-term LNG sale and purchase agreement, which may include the supply of up to one million tons annually for 10 years starting from 2030.
Image Credits : ONA | Cropped by GBN
Pursuant to the MoU, the two companies will also seek a joint investment in building an LNG carrier in cooperation with Asyad for maritime transport, purchase LNG shipments from ‘Naturgy’ to continue meeting the needs of the European market, and study opportunities for access to European regasification terminals and associated gas pipeline networks to enhance LNG imports and subsequent sales, cooperating in this field to develop global commercial opportunities.
The fourth MoU was signed by the Omani Ministry of Transport, Communications and Information Technology with an international consortium of companies comprising HIF EMEA, ACCIONA&Nordex Green Hydrogen and Al MEERA Investment. It aims to explore and develop a project for producing and supplying ships with low-carbon green methanol in Dhofar Governorate, enhancing Oman’s efforts to achieve carbon neutrality and establishing Dhofar as a leading hub for green fuel and ship bunkering in the Middle East region.
Under the MoU, both parties will assess the technical, regulatory, and commercial requirements for establishing a major green methanol production facility in Oman, capitalizing on renewable energy and the country’s advanced infrastructure.
Image Credits : ONA | Cropped by GBN
The consortium will conduct feasibility and economic studies to evaluate the potential for ship bunkering and export from Dhofar Governorate, using solar and wind energy to produce green hydrogen and converting industrial or biogenic CO₂ into green methanol. The Ministry of Transport, Communications, and Information Technology will coordinate with government entities and provide regulatory support, including land allocation and potential project incentives.
The MoUs were signed on the Omani side by Eng. Salim bin Nasser Al Awfi, Minister of Energy and Minerals; Faisal bin Abdullah Al Rowas, Chairman of the Board of Directors of Oman Chamber of Commerce and Industry; Qais bin Saud Al Zakwani, CEO of Nama Water Services; and Hamad bin Mohammed Al Nu’amani, CEO of Oman LNG.
On the Spanish side, signatories included José Luis Bonet, Chairman of Chamber of Commerce; Pablo Calabuig, representing the Spanish company ‘Aguas de Valencia’; Francisco Reynés Massanet, CEO of Naturgy; and, representing the international consortium Pablo Pulpeir, CEO ACCIONA&Nordex Green Hydrogen, Thorsten Herdan, CEO of HIF EMEA and Haythem Macki, CEO Al MEERA Investment.
