Browsing: Middle east

A draft Memorandum of Understanding (MoU) between the National Energy Administration of China and the Saudi Ministry of Energy in the area of clean hydrogen energy was authorized by the Shoura Council. This came after the council’s Energy and Industry Committee had presented a report on the subject.

The Middle East GCC region has chosen KBR’s ammonia technology for a massive one million tons per year low-carbon ammonia project.

Acwa Power, a Saudi Arabian energy business, intends to build up to three additional green hydrogen reactors on a par with its enormous Neom project.

The International Energy Agency (IEA) estimates attaining net-zero targets by 2050 will require 520 million tonnes of hydrogen. This requires lots of equipment and electrolysers.

Similar to its massive project in NEOM, the business intends for ACWA Power Saudi Arabia to construct up to three additional green hydrogen plants.

Masdar and the International Financial Corporation (IFC) have signed a contract to look into potential areas of cooperation to assist climate action for emerging countries.

In order to diversify its economy, Saudi Arabia, a major oil producer and member of the Organization of the Petroleum Exporting Countries (OPEC), is looking to add additional energy sources, such as clean fuels and renewables.

His Majesty Sultan Haitham bin Tarik issued Royal Decree 10/2023 on February 26, 2023, establishing a new legal framework for large-scale renewables and green hydrogen projects in Oman.

The second-largest economy in the Arab world, the UAE, will unveil its national hydrogen strategy the following month, according to a representative of the ministry of energy and infrastructure.

The NEOM Green Hydrogen Project (NGHP), which is anticipated to be put into service in 2026, has inked financing agreements for a total investment of $8.5 billion with Saudi Arabian utility developer ACWA Power, which is partially owned by the sovereign Public Investment Fund.