News

Saudi Aramco has announced a major blue hydrogen project with the news that 5m to 9m tpa CO2 storage facility at Jubail, the largest of its kind in line with the Kingdom’s National Hydrogen Strategy.

Bank of America predicts that hydrogen will replace 25 percent of global demand for oil by 2050 and Saudi Arabia and other Gulf nations are expected to prove vital in supplying hydrogen around the world, with Saudi Arabia aiming to be the world’s largest supplier of the fuel. The Kingdom aims “to have a field day with blue hydrogen as the cheapest cost producer of gas.”

Meanwhile, on the Red Sea coast construction has started on the US$5 bn NEOM green hydrogen plant in the planned carbon-free megacity of Neom, which is expected to come online in 2025. ACWA Power will operate the plant which is being built by Air Products. The facility will use 4GW of wind/ solar electricity, producing 650 tonnes of hydrogen a day from 120 Thyssenkrupp electrolysers.

The Kingdom’s hydrogen plans are a key focus for HFI Net Zero Legal Solutions and or Saudi Arabia Ventures Initiatives – SAVI – we look forward to Energy Industries Council’s (EIC) latest GCC Energy Market & Project Update take place on 6 September.