MUST-READS

• Work starts at world’s largest green hydrogen project in NEOM with a $900m EPC contract

  Saudi Arabia's ACWA Power and its partners kicked off the construction work at the world's largest green hydrogen project in NEOM. The partners announced a $900 million contract for the engineering, procurement and construction of the project, according to a bourse filing by ACWA Power.

• The Economics and Resource Potential of Hydrogen Production in Saudi Arabia

  Energy transition discussions, policymakers are increasingly viewing hydrogen as a preferred emissions-free substitute for oil, natural gas and coal in hard-to-abate sectors. However, hydrogen is not a primary energy source but rather is a carrier of energy. Many factors, including its source and the technology used to manufacture it, influence its production costs. Currently, hydrogen manufacturing processes themselves have significant carbon footprints. Thus, for hydrogen to be accepted as a low-carbon fuel source, its production methods must also be decarbonized.

• Scientists publish the first complete human genome

  Researchers in 2003 unveiled what was then billed as the complete sequence of the human genome. But about 8% of it had not been fully deciphered, mainly because it consisted of highly repetitive chunks of DNA that were difficult to mesh with the rest.

• Opinion: Green hydrogen is the means to an end, not an end in itself

  Green hydrogen is the means to an end, not an end in itself. We need to use green hydrogen for decarbonisation of the hard to abate sectors such as steel or cement. The sooner we do it, the better, so that we can minimise the creation of production capacities based on fossil fuels which would have to be phased out for net zero.

• Saudi Arabia Announces construction of Neom’s $5 Billion Green Hydrogen Plant

  Saudi Arabia has announced that it will start the construction of a $5 billion hydrogen plant in Neom this month to produce carbon-free hydrogen anticipated to be export-ready in the next four years to help transition to clean energy. The facility contracted by US-based firm Air Products and Chemicals Inc. will be located at Northwestern Saudi Arabia.

• Russian agents charged with targeting U.S. nuclear plant, Saudi oil refinery

  U.S. and British officials on Thursday accused the Russian government of running a years-long campaign to hack into critical infrastructure, including an American nuclear plant and a Saudi oil refinery.

• Why Saudi Arabia Is Primed to Become a Global Leader in Hydrogen Supply

  According to S&P Global Platts Analytics, moreover, the total investment value of announced hydrogen projects in the Middle East equates to some $44 billion, of which $35 billion is being invested in projects that are expected to be operational by 2030.

• Why Saudi Arabia Is Primed to Become a Global Leader in Hydrogen Supply

  Home Finance Why Saudi Arabia Is Primed to Become a Global Leader in Hydrogen Supply Finance WHY SAUDI ARABIA IS PRIMED TO BECOME A GLOBAL LEADER IN HYDROGEN SUPPLY March 23, 2022 By Cary Springfield, International Banker When one thinks of Saudi Arabia as far as natural resources are concerned, one might be forgiven for thinking purely in terms of crude oil—and natural gas to a lesser extent. After all, the Kingdom has long been one of the world’s top oil-producing nations; it is also the leading member nation of the global oil-producing cartel OPEC (Organization of the Petroleum Exporting Countries) and is arguably home to the world’s second-largest proven oil reserve. But in recent times, Saudi Arabia has been pushing to bolster its hydrogen-production capacity as a low-carbon alternative to oil to such an extent that much of the current analysis of this potentially game-changing clean-energy source puts the Gulf state at the centre of global production over the next decade. Described by the International Energy Agency (IEA) as a “versatile energy carrier”, hydrogen could well be a key player in the world’s transition to green renewable-energy sources. Indeed, Bank of America predicts that hydrogen will replace 25 percent of global demand for oil by 2050. Should such an estimate come to fruition, it is highly likely that some regions will require more hydrogen than their production capacity can support. As such, Saudi Arabia and other Gulf nations are expected to prove vital in supplying hydrogen around the world, with Saudi Arabia aiming to be the world’s largest supplier of the fuel. In October, the country’s energy minister, Abdulaziz bin Salman Al Saud, said that the Saudis intended to produce and export four million tons of hydrogen, or thereabouts, by 2030. He also confirmed that he had discussed exporting hydrogen to the European Union (EU) with the European Commission’s (EC’s) vice-president, Frans Timmermans. At present, there are a variety of ways to generate the fuel, and they are classed along a hydrogen “colour spectrum” to denote the different technologies that are used to produce each type: “Blue” hydrogen is produced from fossil fuels using carbon capture and storage; “Green” hydrogen involves the use of renewables to power the electrolysis of water; “Grey” hydrogen, which is currently the most common form of hydrogen production, is created from natural gas or methane using steam methane reformation but without capturing greenhouse gases in the process; “Brown” hydrogen, which is the cheapest way to produce hydrogen, uses thermal coal in the production process and is, therefore, also the most damaging to the environment; “Turquoise” hydrogen involves the methane pyrolysis process to produce hydrogen and carbon but is less commonly applied due to concerns over methane leakage; “Pink” hydrogen is generated through electrolysis powered by nuclear energy. According to bin Salman, who spoke at the World Economic Forum (WEF) in January, the country is mainly pursuing blue, green and pink hydrogen development, with the bulk at this stage expected to be blue. “We will have a field day with blue hydrogen because again, we’re the cheapest cost producer of gas,”

• Saudi Aramco increases oil, gas, and hydrogen investments

  Aramco said it will raise its crude oil “maximum sustainable capacity” to 13 million barrels a day by 2027, up from 10 million in February.

• U.S. Sends Patriot Missiles to Saudi Arabia, Fulfilling Urgent Request

  U.S. officials said the decision to send the interceptors had taken months because of the high demand for the weapons by other U.S. allies and the need to go through normal vetting—not because the White House was deliberately delaying the resupply. The interceptors and other munitions sent to Saudi Arabia were taken from U.S. stockpiles elsewhere in the Middle East, one of the officials said.

  • Bloomberg - Saudi Arabia Says Yemeni Attacks May Disrupt Global Oil Supplies
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