Friday, March 5, 2021

Abu Dhabi targets hydrogen for future export

DUBAI: Three of Abu Dhabi’s biggest government-backed companies agreed to work together to turn the oil-rich emirate into an exporter of blue and green hydrogen.

Mubadala Investment Co, Abu Dhabi National Oil Co and ADQ have formed an alliance to produce hydrogen using natural gas and renewable energy and market it overseas as well as in the United Arab Emirates, ADQ said in a statement.

Some Middle Eastern states that built their fortunes on oil are seeking to develop hydrogen as fuel, given a shift among some of their buyers toward less-polluting alternatives to crude.

Saudi Arabia’s energy minister said he wants the kingdom to become the world’s largest shipper of hydrogen. ─ Bloomberg

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