Energy giants target Middle East hydrogen market

In 2021, countries in the Middle East announced hydrogen energy plans one after another, and both Saudi Arabia and the United Arab Emirates announced major investments in blue and green hydrogen projects in the next 10 years, with a view to becoming the world's largest hydrogen fuel production base
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On this basis, state-owned oil and gas companies in the Middle East have launched hydrogen energy plans, and foreign energy giants have also begun to step up investment to deploy the hydrogen energy market

Many countries in the Middle East carry out green hydrogen plans

Taking the COP 26 climate summit held in November 2021 as an opportunity, many countries in the Middle East have disclosed their green hydrogen plans
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At the COP 26 summit, the UAE revealed its goal of capturing a 25% share of the global low-carbon hydrogen market by 2030 through its "Hydrogen Leadership Roadmap"

In addition, through an inter-regional agreement, Oman also hopes to become a major global hydrogen producer and exporter
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In November 2021, Oman announced that it wants to build a hydrogen-centric economy with 30 gigawatts of green and blue hydrogen by 2040

Oil majors lock in green hydrogen

　Oil majors lock in green hydrogen

At present, national oil companies in the Middle East have shown a strong interest in green hydrogen
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Saudi Aramco said it plans to build a series of green hydrogen and green ammonia projects aimed at making green hydrogen more economically viable, with a view to growing the industry
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The company signed a memorandum of understanding with Modern Industrial Investment Holding Group and Hong Kong Intercontinental Energy in October 2021 to develop green hydrogen projects

The Abu Dhabi National Oil Company (ADNOC) currently produces more than 300,000 tons of hydrogen per year, mainly blue hydrogen
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In 2021, the company and Abu Dhabi National Energy Company (TAQA) formed a new global renewable energy and green hydrogen joint venture

Omani state-owned enterprises also have high hopes for green hydrogen
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Abullah al Abri, Head of Energy Renewal at Oman Petroleum Development Company, said: “Oman will produce around 1 GW of clean hydrogen by 2025, 10 GW by 2030 and 30 GW by 2040.

Non-territorial enterprises to seize the Middle East market

Non-territorial enterprises to seize the Middle East market

In addition to local companies in the Middle East, foreign companies are also actively deploying the green hydrogen market in the Middle East
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In May 2021, Dubai launched the region's "first industrial-scale" green hydrogen plant

In addition, France's ENGIE and Abu Dhabi-based renewable energy company Masdar Energy have jointly announced plans to invest $5 billion to develop the UAE's green hydrogen industry
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Details about the project's development have not been disclosed, but the companies hope to have a 2 GW electrolyzer capacity built by 2030
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The project aims to develop a gigawatt-scale green hydrogen hub for Gulf Cooperation Council (GCC) countries
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This will help accelerate the economic decarbonisation of GCC member countries
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The companies said the new hydrogen project "will initially target local supply with the goal of expanding capacity to create a gigawatt-scale green hydrogen hub for GCC
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This green hydrogen hub has the potential to be exported to other markets around the world
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Saudi Arabia and Oman are also working with neighboring countries and international companies to develop green hydrogen
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Recently, Saudi Arabia’s ACWA Power, Oman Oil and American Air Products signed a $7 billion agreement to produce green hydrogen in the Salalah Free Zone in Oman
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In addition, ACWA Power and American Air Products have developed a $5 billion hydrogen-based ammonia plant on Saudi Arabia's Red Sea coast as part of the Saudi Neom development project
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