According to an Arab oil exporters organization, the Middle East area is poised to profit on emerging hydrogen trends.
During a meeting in Oman, the Organization of Arab Petroleum Exporting Countries (OAPEC) produced a working paper explaining how the regional renewable energy industry may aid in the development of green hydrogen.
OAPEC, which has its headquarters in Kuwait, anticipates a significant increase in hydrogen demand as the energy revolution advances. Meanwhile, the proximity of Middle Eastern countries to the European market means that Arab producers are well-positioned to capitalize on green energy developments.
Siemens, a German engineering firm, recently signed a memorandum of understanding outlining the development of hydrogen projects with export potential in Egypt, a member of OAPEC.
Despite Egypt’s substantial gas reserves, which may be used as fuel for blue hydrogen production, the focus of Siemens’ relationship is on green hydrogen.