Saudi Arabia, the world’s largest exporter of crude, plans to sell green hydrogen produced in the kingdom to Europe, its energy minister said.
The kingdom intends to pipe the clean fuel to Europe "if the economics allow for it", Prince Abdulaziz bin Salman told the Riyadh-based International Energy Forum during an online conference.
Saudi Arabia harbours ambitions to be an exporter of hydrogen as it adjusts to the global energy industry's shift to cleaner fuel sources.
Last year, a consortium comprising industrial gases company Air Products, Saudi-based clean energy company Acwa Power and Neom, the planned futuristic mega city in the kingdom’s north-west, agreed on a $5 billion project to produce hydrogen using solar and wind energy.
Hydrogen has become a popular alternative fuel among Gulf oil producers that are looking to diversify their energy sources.
Blue hydrogen is derived from gas while the green variant is produced from renewable sources.
Clean hydrogen can slash greenhouse gas emissions from the hydrocarbons sector by 34 per cent, according to Bloomberg.
McKinsey estimates that the development of a hydrogen economy could generate $140bn in annual revenue by 2030 in the US alone.
Saudi Arabia hopes to tap into the hydrogen boom even as it presses ahead with a push to expand its renewable power capacity to diversify its energy mix.
In January, Prince Abdulaziz said he had hopes for the kingdom to become "another Germany" when it comes to renewables amid plans to generate 50 per cent of its power from clean sources.
More renewable projects, particularly solar initiatives, will be announced soon, Prince Abdulaziz told the IEF panel.
“I believe, in the next month or so, we will dazzle the world with how cheaply we can get our solar electricity.”
Saudi Arabia has already launched a renewables programme and is constructing its first solar and wind power plants.
The world’s largest oil exporter also plans to tap nuclear power for civilian use.
The kingdom has an ambitious renewables strategy and plans to add 60 gigawatts of clean energy capacity to the grid by 2030.
Of this, 40 gigawatts will come from solar photovoltaic panels, 16 gigawatts from wind and 2.7 gigawatts from concentrated solar power.
COMPANY%20PROFILE
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COMPANY PROFILE
Name: Xpanceo
Started: 2018
Founders: Roman Axelrod, Valentyn Volkov
Based: Dubai, UAE
Industry: Smart contact lenses, augmented/virtual reality
Funding: $40 million
Investor: Opportunity Venture (Asia)
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Company%20Profile
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UAE currency: the story behind the money in your pockets
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
MATCH INFO
Champions League quarter-final, first leg
Ajax v Juventus, Wednesday, 11pm (UAE)
Match on BeIN Sports
RESULTS
6.30pm Al Maktoum Challenge Round-1 Group One (PA) US$65,000 (Dirt) 1,600m
Winner RB Money To Burn, Fabrice Veron (jockey), Eric Lemartinel (trainer).
7.05pm Handicap (TB) $175,000 (Turf) 1,200m
Winner Ekhtiyaar, Jim Crowley, Doug Watson.
7.40pm UAE 2000 Guineas Trial Conditions (TB) $100,000 (D) 1,600m
Winner Commanding, Richard Mullen, Satish Seemar.
8.15pm Singspiel Stakes Group Two (TB) $250,000 (T) 1,800m
Winner Benbatl, Christophe Soumillon, Saeed bin Suroor.
8.50pm Handicap (TB) $135,000 (T) 1,600m
Winner Zakouski, William Buick, Charlie Appleby.
9.25pm Al Maktoum Challenge Round-1 Group Two (TB) $350,000 (D) 1,600m
Winner Kimbear, Pat Dobbs, Doug Watson.
10pm Dubai Trophy Conditions (TB) $100,000 (T) 1,200m
Winner Platinum Star, Christophe Soumillon, Saeed bin Suroor.
10.35pm Handicap (TB) $135,000 (T) 1,600m
Winner Key Victory, James Doyle, Charlie Appleby.
SPEC%20SHEET%3A%20APPLE%20IPAD%20PRO%20(12.9%22%2C%202022)
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Williams at Wimbledon
Venus Williams - 5 titles (2000, 2001, 2005, 2007 and 2008)
Serena Williams - 7 titles (2002, 2003, 2009, 2010, 2012, 2015 and 2016)
Killing of Qassem Suleimani
ESSENTIALS
The flights
Emirates flies from Dubai to Phnom Penh via Yangon from Dh2,700 return including taxes. Cambodia Bayon Airlines and Cambodia Angkor Air offer return flights from Phnom Penh to Siem Reap from Dh250 return including taxes. The flight takes about 45 minutes.
The hotels
Rooms at the Raffles Le Royal in Phnom Penh cost from $225 (Dh826) per night including taxes. Rooms at the Grand Hotel d'Angkor cost from $261 (Dh960) per night including taxes.
The tours
A cyclo architecture tour of Phnom Penh costs from $20 (Dh75) per person for about three hours, with Khmer Architecture Tours. Tailor-made tours of all of Cambodia, or sites like Angkor alone, can be arranged by About Asia Travel. Emirates Holidays also offers packages.