The GCC is poised for a key role in the global green hydrogen market, says the World Future Energy Summit report.
The GCC is poised to play a key role in the anticipated global hydrogen market, with the UAE, Saudi Arabia and Oman aiming to become leaders in exporting the clean fuel, helping to drive the sector’s evolution of energy in the region, according to a new report at the World Future Energy Summit.
Coming a week ahead of the World Future Energy Summit – the leading business event for future energy and sustainability running at the Abu Dhabi National Exhibition Center from January 16-18 – the report, commissioned from business consultancy Frost & Sullivan, paints a picture of great opportunity for the region.
The report highlights that in the GCC countries seeking to achieve energy sustainability through a combination of renewable energy integration, energy efficiency implementation and hydrogen production and transportation, the energy sector in region is set for wide evolution.
The report says:
Hydrogen is gaining more recognition as a key contributor to the evolution of the energy sector and is expected to play an important role in decarbonizing the economy of the GCC’s end-use sectors.
It added: “GCC countries, especially the UAE, Saudi Arabia and Oman, are working on national strategies aimed at developing the hydrogen market in the region and positioning themselves as future hydrogen exporters .”
GCC countries currently use a lot of natural gas-based gray hydrogen, and the availability of low-cost natural gas combined with the ease of capturing, using and storing carbon allows for cost-competitive production of blue hydrogen even though the GCC has a lot of competition. advantage of playing a key role in the global green hydrogen economy. These advantages include solar and wind resources, financial capabilities, and export potential.
“Not only does the region have strong connections with developed European economies, but a network of ports and pipeline infrastructure gives the region access to fast-growing markets in Asia and Africa.”
“These trade routes and connections are expected to play a key role in the transportation of hydrogen, which will prove critical in meeting end-user demand for fuel as future major demand markets such as Europe and Japan may face challenges in ramping up hydrogen production to meet demand,” the report said.
The report recommends the region act quickly to leverage a first-mover advantage and make investments to achieve future cost competitiveness following increased competition from the North African, European, and Australian regions. .
The report comes ahead of the World Future Energy Summit 2023, with a strong focus on the sector’s potential through the new Green Hydrogen Innovation Hub, which caters to start-ups and SMEs. Building on the upward momentum, the World Future Energy Summit will also produce three dedicated podcasts on the topic as the first in a series centered on renewable energy, sustainability, and climate change.
Leen Al SebaiHead of the World Future Energy Summit and General Manager of RX Middle East, the organizer of the event, said:
Summit attendees will gain deep insights into current and future solutions that enable hydrogen to play a key role in the energy transition.
“The entire hydrogen eco-chain will be explored together with the key technologies that enable the production, transport, storage and use of green hydrogen.”
Other hydrogen-related companies participating in the World Future Energy Summit include US company Ohmium International which will showcase its cutting-edge Proton Exchange Membrane (PEM) electrolyser technology, which converts renewable energy into of emission-free hydrogen.
The CEO of Ohmium International, Arne Ballantine, says that the company will be looking to meet organizations that want to realize the potential of green hydrogen to deliver their goals of decarbonization and sustainability.
Arne Ballantine, The CEO of Ohmium International said:
Ambitious net-zero commitments and increased collaboration accelerate the pace of change and support for the UAE’s Net Zero by 2050 goal. It is great to see companies across the energy, steel, and cement industries working with the Ministry of Climate Change and Environment to reduce carbon emissions, much of which is likely to be achieved through the deployment of green hydrogen .
“The potential for green hydrogen in the Middle East and North Africa region is significant. The rich renewable resources make the region one of the best locations for green hydrogen production. However, the speed in implementation will be key if the region is to fully realize its potential as a green hydrogen and renewable energy powerhouse.
The World Future Energy Summit is hosted by Masdar and is part of Abu Dhabi Sustainability Week, a global platform for accelerating sustainable development in the world. The event is also, for the first time, held together with ENOWA.
For more information on the event and how to participate, please visit https://www.worldfutureenergysummit.com
For more information on the Innovation Hub and Summit, please visit https://www.worldfutureenergysummit.com/en-gb/content-hub/form.html
About the World Future Energy Summit
The annual World Future Energy Summit in Abu Dhabi is the world’s leading business event and exhibition for future energy, clean technology, and sustainability. Bringing together government and business leaders, it showcases pioneering technologies and ground-breaking initiatives in energy, energy efficiency, water, solar, waste, smart cities, climate and environment.
As a global hub for business, innovation, and knowledge exchange at the heart of Abu Dhabi Sustainability Week, the World Future Energy Summit encourages the development and transfer of ideas, technologies, and investments across borders and between in the public and private sectors around the world. The exhibition and industry forums help stimulate sustainable growth for all stakeholders. For more information, please visit www.worldfutureenergysummit.com
About Abu Dhabi Sustainability Week
Abu Dhabi Sustainability Week (ADSW) is a global platform for accelerating sustainable development in the world. The week brings together a unique combination of policy makers, industry specialists, technology pioneers and the next generation of sustainability leaders. Through its initiatives and events, ADSW is a catalyst for sharing knowledge, implementing strategies, and delivering solutions to encourage human development.
ADSW is committed to advancing our understanding of the major social, economic, and environmental trends shaping global sustainable development. For more information, visit www.abudhabisutabilityweek.com
About Masdar
Abu Dhabi renewable energy company Masdar is advancing the commercialization and deployment of renewable energy, sustainable urban development, and clean technologies to meet the challenges of sustainability in world.
Wholly owned by Mubadala Investment Company, the strategic investment company of the Government of Abu Dhabi, our mandate is to help maintain the UAE’s leadership in the global energy sector, while supporting economic diversification and source of energy for the benefit of future generations.
Masdar’s renewable energy projects are in the UAE, Jordan, Mauritania, Egypt, Morocco, the UK, Serbia, and Spain. For more information about Masdar, please visit: www.masdar.ae. Stay connected: facebook.com/masdar.ae and twitter.com/masdar
About RX (Reed Exhibition)
RX is in the business of building businesses for individuals, communities and organizations. We increase the power of face-to-face events by combining data and digital products to help customers learn about markets, source products and complete transactions in over 400 events in 22 countries in 43 industry sectors.
RX is passionate about making a positive impact on society and is fully committed to creating an inclusive work environment for all of our people. RX is part of RELX, a global provider of information-based analytics and decision tools for professional and business customers. www.rxglobal.com
About RELX
relax is a global provider of information-based analytics and decision tools for professional and enterprise customers. RELX serves customers in more than 180 countries and has offices in about 40 countries. It employs more than 33,000 people with more than 40% of them in North America.
Shares of RELX PLC, the parent company, are traded on the London, Amsterdam and New York Stock Exchanges using the following ticker symbols: London: REL; Amsterdam: REN; New York: RELX.
The GCC is preparing for a key role in the global green hydrogen market, says the report at the World Future Energy Summit, Abu Dhabi, UAE, January 11, 2022
