Energy Suez Canal Economic Zone signs $15bn energy deals Egypt’s Suez Canal Economic Zone signed a $6.75 billion deal with China Energy Engineering Corporation on Tuesday, for a green ammonia and green hydrogen project to be built in its Sokhna industrial zone. On the same day, another Chinese company, Hong Kong’s United Energy Group, signed a memorandum of understanding for a potassium chloride production […] October 17, 2023
Energy UAE to produce nuclear-powered pink hydrogen The UAE is investigating the production of pink hydrogen, which is generated through electrolysis powered by nuclear energy. “We are conducting studies to produce pink hydrogen by capitalising on the heat from our nuclear plants,” said Sharif Salim Al Olama, undersecretary for energy and petroleum affairs in the energy and infrastructure ministry. The country already […] October 12, 2023
Opinion Trade Meanwhile, on the G20 sidelines, history in the making The proposed India-Middle East-Europe Economic Corridor could become a 'green and digital bridge across continents and civilisations' September 11, 2023
Renewable Energy Aramco and Dutch car maker make low-carbon fuel Saudi oil major Aramco and Dutch car maker Stellantis have developed an e-fuel that will work without modifications in the engines of some 24 million vehicles already on European roads and using conventional petrol. Recent tests showed the low-carbon fuel could reduce carbon dioxide emissions from existing internal combustion vehicles by at least 70 percent, […] September 6, 2023
Renewable Energy UK company strikes Mideast deal for hydrogen generators UK hydrogen fuel cell company AFC Energy has signed an agreement with a leading Saudi marketer to sell its hydrogen generators in the Middle East and Central Asia. The deal gives Saudi Arabia’s The Machinery Group (Tamgo) exclusive rights to market AFC Energy’s alternative to diesel-powered generators in 16 countries including Saudi Arabia, United Arab […] September 5, 2023
Analysis Renewable Energy Oman takes green hydrogen gamble Sometimes it takes a country. Oman is dedicating an area the size of Slovakia to solar power projects to produce green hydrogen – gas produced entirely from renewable sources. On June 1 Salim bin Nasser Al Aufi, minister of energy and minerals, signed $20 billion of contracts with partners including BP, Shell and the newly […] August 14, 2023
Renewable Energy QIA buys $500m stake in Adani’s green energy firm India’s Adani Group has raised $500 million by selling a part of its holdings in Adani Green Energy Limited to investors, including INQ Holding, a wholly owned unit of Qatar Investment Authority (QIA). The stake sale by Indian billionaire Gautam Adani aims to reduce promoter-level debt and release stock pledges. Infinite Trade and Investment sold 42.6 million […] August 8, 2023
Renewable Energy France’s Engie ramps up Middle East renewables push French utilities firm Engie is closing in on several opportunities in the Middle East as it looks to the region to help it hit targets to double renewables generation to 80 gigawatts by 2030. “We are trying to identify the best geographies for renewables and clearly the Middle East is one of those,” said Frédéric Claux, […] August 7, 2023
Energy Gulf must ‘bridge gap’ between oil and renewables GCC oil producers will play a crucial role in the global transition to a lower carbon future if they can help bridge the historic disconnect between hydrocarbons and clean energy. That is according to Joseph McMonigle, secretary general of the International Energy Forum (IEF), a Riyadh-headquartered think tank. “There is growing recognition that the oil […] August 1, 2023
Exclusive Energy Acwa Power bids to turbocharge Saudi’s green targets When it comes to the green transition, Saudi Arabia has got some catching up to do. The country is targeting a 50-50 split in electricity generation between renewables and gas by 2030, but in 2021 just 0.2 percent of electricity came from renewable sources. To achieve this Vision 2030 goal, the country has tasked its […] July 28, 2023
Renewable Energy India’s Acme secures funding for Oman hydrogen project Indian renewable energy company Acme Group has secured a loan of $490 million to finance a green hydrogen and ammonia project in Oman. The funding will come from Rec Limited, one of India’s largest green infrastructure financial institutions, and will be used for the first phase of the project. The facility will be established at […] July 27, 2023
Analysis Energy Green for go: UAE’s long-term plan for hydrogen The UAE has unveiled its national hydrogen strategy as analysts predict that GCC members can play a key role as exporters. The blueprint for hydrogen is a “long-term plan to turn the UAE into a leading and reliable producer and supplier of low-carbon hydrogen by 2031”, according to Suhail bin Mohammed Al Mazrouei, minister of […] July 26, 2023
Renewable Energy PIF and Japan’s Jera explore green hydrogen projects Saudi Arabia’s Public Investment Fund (PIF) and Japanese energy company Jera Co. have signed a memorandum of understanding (MoU) to explore the development of green hydrogen projects and derivatives. The MoU allows the two companies to commence the necessary studies for projects in Saudi Arabia to support domestic and international markets. Jera established Jera Middle […] July 21, 2023
Renewable Energy Masdar and Adnoc agree trio of green hydrogen deals Abu Dhabi renewable energy company Masdar has agreed a deal with two Japanese energy and chemicals firms to explore production of commercial-scale polypropylene made from carbon dioxide and green hydrogen in the UAE. Masdar has teamed up with Japan’s Mitsubishi Chemical Group Corporation and Inpex Corporation, a Japanese oil and gas company. They have signed […] July 18, 2023
Opinion Energy Opec’s challenge: oil market stability and sustainability Balancing demand with calls to cut emissions points to a different future July 18, 2023
Renewable Energy Cop28 action plan unveiled by Al Jaber With the world in the grip of extreme weather events, Cop28 president-designate Sultan Al Jaber has announced a four-pillar climate action plan ahead of the forthcoming summit. The UAE’s climate envoy went on to issue a rallying cry to delegates to build the “energy system of the future”. “We need everyone to play their part […] July 18, 2023
Opinion Sustainability The UAE has a difficult path to negotiate As Cop28 host and a major oil exporter the Emirates faces a tricky balancing act July 17, 2023
Analysis Renewable Energy ‘A long way to go’ to reduce the Gulf’s carbon emissions As some of the world’s largest emitters of carbon dioxide, big exporters of hydrocarbons and beneficiaries of high per capita incomes, the spotlight is on the Gulf states’ efforts to reduce their carbon emissions. Expectations are high – and likely to become higher – as the UAE prepares to host Cop28 in November. “There is […] July 17, 2023
Opinion Energy UAE roadmap for Cop28: high energy, low impact There are constraints imposed by life in a maritime desert, however July 14, 2023
Energy PIF and Engie to collaborate on green hydrogen French utilities firm Engie and Saudi Arabia’s Public Investment Fund have signed an initial agreement to develop green hydrogen projects in the kingdom, building on Gulf ambitions to become a world leader in the fast-growing renewable energy segment. Under the memorandum of understanding signed this week, Engie and PIF will explore opportunities to jointly develop […] July 13, 2023
Analysis Trade Pakistan looks to UAE for trade deals, not loan debts The UAE confirmed late on Wednesday it has deposited $1 billion in Pakistan’s central bank, a day after Saudi Arabia also transferred $2 billion. In addition to direct funding, the Islamabad government is aiming to attract multi-billion dollar investments from the UAE and other Gulf countries to create millions of new jobs after struggling with […] July 13, 2023
Renewable Energy UAE pledges $54bn for renewable energy The UAE has vowed to treble its renewable energy investment over the next seven years, investing up to AED200 billion ($54 billion) as climate experts warn the world is losing the race to reduce global warming. The Emirati cabinet – chaired by Sheikh Mohammed bin Rashid Al Maktoum, the UAE prime minister and ruler of […] July 4, 2023
