Hydrogen: Market potential
Hydrogen has an estimated $11 trillion market potential, according to Bank of America Securities and is expected to generate $2.5tn in direct revenues and $11tn of indirect infrastructure by 2050 as its production increases six-fold.
"We believe we are reaching the point of harnessing the element that comprises 90 per cent of the universe, effectively and economically,” the bank said in a recent report.
Falling costs of renewable energy and electrolysers used in green hydrogen production is one of the main catalysts for the increasingly bullish sentiment over the element.
The cost of electrolysers used in green hydrogen production has halved over the last five years and will fall to 60 to 90 per cent by the end of the decade, acceding to Haim Israel, equity strategist at Merrill Lynch. A global focus on decarbonisation and sustainability is also a big driver in its development.
Abu Dhabi National Oil Company plans to establish a ‘hydrogen ecosystem’ as it looks to meet growing global demand for the lighter and cleaner gas that is emerging as an alternative to fossil fuels.
Abu Dhabi Crown Prince Sheikh Mohamed bin Zayed, who is vice chairman of the emirate’s Supreme Petroleum Council, directed the state oil company to "explore and pursue potential opportunities in the field of hydrogen projects” and “enhance” the UAE’s position in the field, the company said in a statement on Sunday as it detailed its investment plan for the next five years.
Adnoc’s plan to ramp up production of hydrogen, which is already used in its downstream sector, will help meet “emerging global demand” for the gas and for ammonia derived from it.
“Adnoc is well placed to lead the development of international value chains and establish a hydrogen ecosystem for the UAE in partnership with other Abu Dhabi entities,” the company said.
Adnoc has “many advantages” that would allow it to benefit from growth opportunities in the global market for the fuel. The state oil company will rely on existing modern and integrated infrastructure facilities as well as its rich reserves of natural gas to develop its hydrogen potential.
Saudi Arabia, the world's largest oil exporter, is also putting together a strategy to develop hydrogen production capabilities as it looks for alternative fuels to diversify its energy mix, according to the country's energy minister.
Hydrogen is being trialled as a promising alternative to fossil fuels, particularly in transportation. Clean hydrogen can slash green house gas emissions from the hydrocarbons sector by 34 per cent, according to BloombergNEF. The growth of hydrogen can fuel a €120 billion ($142.3bn) industry in Europe by 2050, according to Aurora Energy Research. Meanwhile, McKinsey estimates that the development of a hydrogen economy could generate $140bn in annual revenue by 2030 and help support 700,000 jobs in the US.
Earlier this month, Adnoc said it was exploring the potential for hydrogen as part of broader plans to lower its carbon intensity.
“We all have a role to play and we as an industry can do more on climate change,” Dr Sultan Al Jaber, Adnoc group chief executive and Minister for Industry and Advanced Technology told an online energy event.
“Adnoc is already one of the least carbon intensive producers in the world ... and [over] the next 10 years, we will reduce our greenhouse gas intensity by ... 25 per cent,” he added.
Hydrogen has become increasingly important as a viable alternative fuel in many global economies as they evaluate its potential as an alternative to hydrocarbons. Proponents and producers of hydrogen are also looking at ways to lower the element's carbon intensity since it is currently manufactured using large volumes of fossil fuel.
Several economies have made green hydrogen a key part of their renewable energy transition plans. Dubai plans to trial a hydrogen fuel cell-powered fleet of cars during next year's Expo event.
Match info
Uefa Nations League Group B:
England v Spain, Saturday, 11.45pm (UAE)
Key findings of Jenkins report
- Founder of the Muslim Brotherhood, Hassan al Banna, "accepted the political utility of violence"
- Views of key Muslim Brotherhood ideologue, Sayyid Qutb, have “consistently been understood” as permitting “the use of extreme violence in the pursuit of the perfect Islamic society” and “never been institutionally disowned” by the movement.
- Muslim Brotherhood at all levels has repeatedly defended Hamas attacks against Israel, including the use of suicide bombers and the killing of civilians.
- Laying out the report in the House of Commons, David Cameron told MPs: "The main findings of the review support the conclusion that membership of, association with, or influence by the Muslim Brotherhood should be considered as a possible indicator of extremism."
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Yemen's Bahais and the charges they often face
The Baha'i faith was made known in Yemen in the 19th century, first introduced by an Iranian man named Ali Muhammad Al Shirazi, considered the Herald of the Baha'i faith in 1844.
The Baha'i faith has had a growing number of followers in recent years despite persecution in Yemen and Iran.
Today, some 2,000 Baha'is reside in Yemen, according to Insaf.
"The 24 defendants represented by the House of Justice, which has intelligence outfits from the uS and the UK working to carry out an espionage scheme in Yemen under the guise of religion.. aimed to impant and found the Bahai sect on Yemeni soil by bringing foreign Bahais from abroad and homing them in Yemen," the charge sheet said.
Baha'Ullah, the founder of the Bahai faith, was exiled by the Ottoman Empire in 1868 from Iran to what is now Israel. Now, the Bahai faith's highest governing body, known as the Universal House of Justice, is based in the Israeli city of Haifa, which the Bahais turn towards during prayer.
The Houthis cite this as collective "evidence" of Bahai "links" to Israel - which the Houthis consider their enemy.
Museum of the Future in numbers
- 78 metres is the height of the museum
- 30,000 square metres is its total area
- 17,000 square metres is the length of the stainless steel facade
- 14 kilometres is the length of LED lights used on the facade
- 1,024 individual pieces make up the exterior
- 7 floors in all, with one for administrative offices
- 2,400 diagonally intersecting steel members frame the torus shape
- 100 species of trees and plants dot the gardens
- Dh145 is the price of a ticket
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Scorebox
Dubai Hurricanes 31 Dubai Sports City Eagles 22
Hurricanes
Tries: Finck, Powell, Jordan, Roderick, Heathcote
Cons: Tredray 2, Powell
Eagles
Tries: O’Driscoll 2, Ives
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Pens: Carey
UAE currency: the story behind the money in your pockets
Squid Game season two
Director: Hwang Dong-hyuk
Stars: Lee Jung-jae, Wi Ha-joon and Lee Byung-hun
Rating: 4.5/5
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Final results:
Open men
Australia 94 (4) beat New Zealand 48 (0)
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England 85 (3) beat India 81 (1)
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Australia 121 (4) beat South Africa 52 (0)
Under 22 men
Australia 68 (2) beat New Zealand 66 (2)
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Australia 92 (3) beat New Zealand 54 (1)
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Always use only regulated platforms
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2. North America
3. Raven’s Corner
4. Hawkesbury
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More coverage from the Future Forum
The National Archives, Abu Dhabi
Founded over 50 years ago, the National Archives collects valuable historical material relating to the UAE, and is the oldest and richest archive relating to the Arabian Gulf.
Much of the material can be viewed on line at the Arabian Gulf Digital Archive - https://www.agda.ae/en
if you go
The flights
Etihad and Emirates fly direct to Kolkata from Dh1,504 and Dh1,450 return including taxes, respectively. The flight takes four hours 30 minutes outbound and 5 hours 30 minute returning.
The trains
Numerous trains link Kolkata and Murshidabad but the daily early morning Hazarduari Express (3’ 52”) is the fastest and most convenient; this service also stops in Plassey. The return train departs Murshidabad late afternoon. Though just about feasible as a day trip, staying overnight is recommended.
The hotels
Mursidabad’s hotels are less than modest but Berhampore, 11km south, offers more accommodation and facilities (and the Hazarduari Express also pauses here). Try Hotel The Fame, with an array of rooms from doubles at Rs1,596/Dh90 to a ‘grand presidential suite’ at Rs7,854/Dh443.
Hydrogen: Market potential
Hydrogen has an estimated $11 trillion market potential, according to Bank of America Securities and is expected to generate $2.5tn in direct revenues and $11tn of indirect infrastructure by 2050 as its production increases six-fold.
"We believe we are reaching the point of harnessing the element that comprises 90 per cent of the universe, effectively and economically,” the bank said in a recent report.
Falling costs of renewable energy and electrolysers used in green hydrogen production is one of the main catalysts for the increasingly bullish sentiment over the element.
The cost of electrolysers used in green hydrogen production has halved over the last five years and will fall to 60 to 90 per cent by the end of the decade, acceding to Haim Israel, equity strategist at Merrill Lynch. A global focus on decarbonisation and sustainability is also a big driver in its development.
