Major players from the public and private sectors gathered at the Rosh Rayhaan by Rotana Hotel for the event titled “Fueling the Future: Unleashing Business Opportunities with Green Hydrogen.”
The event, jointly hosted by the EU-GCC Dialogue on Economic Diversification Project and the European Union Delegation to the Kingdom of Saudi Arabia, aimed to explore the potential and transformative impact of green hydrogen on sustainable development and decarbonization.
The GCC nations, with a focus on Saudi Arabia, Oman, and the UAE, have set ambitious goals to develop their hydrogen markets. Recognizing this potential, the European Union sees the region as an attractive partner. The EU’s Green Deal and Hydrogen Strategy underline the importance of fostering international collaboration in hydrogen technology.
Jitendra Roychoudhury, a Fellow at the King Abdullah Petroleum Studies and Research Center (KAPSARC), kicked off the event by shedding light on Saudi Arabia’s hydrogen production capacities and the EU’s import requirements. He highlighted the opportunity for lucrative business partnerships arising from the convergence of these factors.
Alessandro Polito, Policy Officer at the European Commission’s Directorate General for Energy, presented the EU’s Hydrogen Strategy and emphasized its international dimension. He discussed H2Global and the European Hydrogen Bank, which offer unique trade and investment opportunities that caught the attention of the participants.
Markus Exenberger, Executive Director of the H2Global Foundation, delved into the role of H2Global/HINTCO in strengthening supply chains. He emphasized the potential of Power-to-X (PtX) products for sustainable hydrogen production, which can unlock new business opportunities. Exenberger also stressed the significance of sustainability standards for pre-qualification in the hydrogen industry, as they play a crucial role in accessing potential business opportunities.
The event concluded with a joint discussion involving all the speakers, focusing on the business opportunities and challenges for both Saudi Arabia and the EU in the context of green hydrogen.
Green hydrogen holds immense promise as a catalyst for economic growth, sustainable development, and decarbonization. By bringing together key stakeholders and experts, events like “Fueling the Future: Unleashing Business Opportunities with Green Hydrogen” contribute to fostering collaboration, knowledge sharing, and the identification of concrete strategies to realize the full potential of this game-changing technology.
