H2Tech Market Data 2024 - 22

4% Qatar
4% Bahrain
12% Saudi Arabia
10% Other
36% UAE
34% Oman
FIG. 14. Active H2 project market share in the Middle East.
Source: GEI database.
to 20% by 2030 and up to 35%-39% by 2040.42
The nation plans to develop green H2
in three regions:
Al Wusta, Dhofar and Duqm. These development plans
will be instituted in a phased approach. Phase 1 includes
the Al Wusta and Dhofar regions-the Omani government
has set aside more than 50,000 km2
and green H2
for renewable energy
project development in these areas.
In June 2023, Oman awarded three renewable energy
and green H2 production projects totaling $20 B. These
projects will increase Oman's renewable energy capacity
by 12 GW and green H2
production by 500,000 tpy:
* Copenhagen Infrastructure Partners, Blue Power
Partners and Al Kadra are building 4.5 GW of
renewable energy to help produce 200,000 tpy
of green H2
.
* bp Oman will install 3.5 GW of renewable capacity
to produce 150,000 tpy of green H2
. The green H2
will be used for ammonia production and exported
to international demand centers.
* Green Energy Oman plans to build 4 GW of renewable
capacity to produce 150,000 tpy of green H2
.
These projects will be complemented by other major
green H2/ammonia projects, including the large-scale
HYPORT project, which will produce nearly 3 GW of
renewable energy and more than 650,000 tpy of green
ammonia; ACWA Power, Air Products and OQ's multi-billion-dollar
H2Oman project; ACME and Scatec's 1.1-MMtpy
green ammonia project; the Hydrogen Oman and Salalah
Hydrogen projects in the Salalah Free Zone; Hydrom's
$7-B-$8-B green H2
produce 220,000 tpy of green H2
and green H2
used to produce blue H2. However, due to the high costs of
producing blue H2
/ammonia project in Duqm, which will
and 1.2 MMtpy of green
ammonia; Inpex, Masdar and Mitsubishi's complex that will
convert CO2
into polypropylene; and other
green H2 production plants, infrastructure (e.g., pipeline),
H2 fueling stations and export facilities.
Saudi Arabia. The Kingdom has ambitious plans to be a
dominant player in low-/zero-carbon H2
production and in
global H2 trade, all the while striving for a net-zero economy
by 2060-this green initiative is expected to cost
upwards of nearly $190 B. Saudi Arabia is making great
strides to incorporate more renewable energy capacity
into its energy mix. According to the Saudi Green Initiative,
Saudi Arabia plans to boost its renewables' market share in
the country's power generation mix to at least 50% by the
end of the decade. The additional renewable energy will
aid the country in meeting its H2
production targets of 2.9
MMtpy by 2030 and 4 MMtpy by 2035.43
The nation's most ambitious initiative is the $500-B
NEOM project. As part of Saudi Arabia's Vision 2030, NEOM
is a city being built on the Red Sea that will run entirely
off renewables. NEOM Green Hydrogen Co. is developing a
world-scale green H2
. The produced green
/ammonia.
, Saudi Aramco is evaluating using the
natural gas for LNG exports should the company be unable
to find suitable customers for blue H2
UAE. Like other countries around the world, the UAE plans
to invest in carbon-abating technologies and infrastructure
to reach net-zero emissions by 2050. According to the UAE's
H2
roadmap, the nation is focusing on three key objectives:
1. Generate new sources of value through
low-carbon H2
2. Provide low-carbon H2
derivative opportunities
and derivatives exports
and industrial
3. Reach net-zero targets by 2050 in hard-to-abate
sectors of the economy.45
A clear regulatory framework will enable these objectives,
as will the development of new H2
technologies
through partnerships and research and development, allocated
land for H2
infrastructure.45
To help reach its 2050 targets, the UAE plans to invest
production facility to provide power
to parts of the city and transportation network. The $8.4B
plant will utilize solar power from a nearby 4-GW solar
farm to produce 600 tpd of green H2
H2 will not only be used to provide power to the city's
industry but will also be utilized to fuel buses and trucks.
Saudi Arabia also plans to tap into its vast natural gas
reserves to increase blue H2/ammonia production. For
example, Saudi Aramco, the nation's national oil and gas
company, announced plans to boost blue ammonia production
to 11 MMtpy by 2030. To help achieve this goal,
the country is developing the $110-B Jafurah unconventional
gas project. The project's initial phase-production
is scheduled to begin in 2024-will process more than
1.1 Bft3
2.2 Bft3d by 2036.44
approximately $160 B in clean and renewable energy over
the next 30 yr-the country's energy plan calls for renewable
energy capacity to increase from 3.2 GW to 14 GW by
2030. The significant boost in renewable energy capacity
will help fuel the production of green H2
/ammonia.
According to Dipak Sakaria, an energy transition expert
with the UAE's Ministry of Energy and Infrastructure, there
were nearly 30 active H2
projects in the UAE under some
form of development (e.g., proposed, planning, engineering,
construction), with seven already passing through
the financing stage.46
1.4 MMtpy of H2
The UAE is planning to produce
by 2031, increasing to 15 MMtpy by 2050.
To reach these ambitious goals, the country plans to
develop two domestic H2
hubs: one in Ruwais and one at
the Khalifa Industrial Zone Abu Dhabi (KIZAD)-the UAE
plans to add three additional domestic H2
The following are some of the more notable H2
d of natural gas, increasing significantly to more than
Portions of Jafurah's natural gas will be
projects under development in the UAE:
* Engie and Masdar formed a $5-B partnership to
explore different routes to a green H2
economy
hubs by 2050.47
production
production facilities, access to financing
and international capital markets, and government support
to build H2
22
MARKET DATA 2024
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H2Tech Market Data 2024

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