Saudi Arabia and France to cooperate on green hydrogen

French Finance Minister Bruno Lemaire stated that France plans to cooperate with Saudi Arabia in various sectors, including green hydrogen and batteries with the necessary investment. He said that on the sidelines of the 2nd day of Future of Investment Initiative (FII) conference. The 4th Future Investment Initiative (FII) was held under the theme of “The Neo-Renaissance” in Riyadh, Saudi Arabia from January 27-28, 2021.

Prince Abdulaziz bin Salman, the Kingdom’s Minister of Energy, stated that Saudi Arabia has been working with several countries on developing both green and blue hydrogen. He said that half of the country power sector fuel would be switched to natural gas while the remaining would be satisfied through renewables.

Saudi Arabia has been trying to diversify its economy as the outlook for oil demand remains pessimistic. The Kingdom has been under pressure due to subdued oil prices and low production, widening its fiscal deficit.

The country aims to be the leading exporter of hydrogen and luring investors to utilise its resources. Thyssenkrupp, a German steelmaker, plans to install a 20 MW alkaline electrolyser prototype to produce green hydrogen and ammonia in Neom, Saudi Arabia.

NEOM, which was announced in 2017, aiming to diversify the economy with several zones, including industrial and logistics, is partly be completed by 2025. In January 2021,  Saudi crown prince, Mohammed bin Salman, revealed infrastructure plans of $100 – $200 billion for Neom.

Haseeb Ullah

Haseeb covers the global energy market for both conventional and modern energy resources. His expertise is on the global energy supply chain from generation to distribution and end-users. He has a Master degree in Engineering Management and a Bachelor of Science degree in Electrical Engineering. He especially covers Asia, Africa and the Middle East markets for H2 Bulletin. Click on the email icon to send me an email or follow me on social media. I am reachable on Phone: +44 (0) 208 123 7812
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