Green Hydrogen Prize Is Huge for The Middle East If a Strategic Hub Approach Is Adopted :
Green Hydrogen Prize Is Huge for The Middle East If a Strategic Hub Approach Is Adopted
The production of green hydrogen is increasing throughout the Middle East. Since the possibilities to reduce industrial emissions and establish a new industrial economy have become widely appreciated, demand to capitalize on constantly growing solar and wind energy is rising. On March 21, German Vice-Chancellor Robert Habeck visited the UAE to start a new relationship between the two hydrogen industry giants.
Green hydrogen as the future fuel will play a vital role in mitigating climate change and liberating nations from existing geopolitical obstacles. The emergence of the Middle East as a worldwide economic superpower has been fueled for decades by the oil and gas reserves of UAE, Kuwait, Saudi Arabia, and Qatar. The transition from fossil fuels to green hydrogen is one of the region’s most pressing problems if it is to preserve its leading position worldwide.
Hydrogen in The Middle East: The Future
Hydrogen has become a more appealing choice for achieving a carbon-free future. Since hydrogen is still in its infancy, it is difficult to project its potential with any certainty. However, some estimates claim that it might fulfill up to 22% of world energy demand and 25% of total oil consumption by 2050. According to some estimates, hydrogen production must be scaled up to eight times by mid-century to reach its full potential. That would require investments of up to $15 trillion. The Middle East is preparing an approach to sustainable hydrogen hubs through a strategic network that will cut down the cost. It will assure a sustainable strategy capable of securing the green hydrogen prize while also assisting the Middle East in achieving net zero emissions and unlocking export possibilities.
Compared to Traditional Fossil Fuels: Key Attractions of Hydrogen
Hydrogen offers several advantages over fossil fuels. It is a naturally pure source of energy with no adverse environmental effects during the process. Green hydrogen is adaptable, non-toxic, releases no carbon emissions, and burns cleanly. Besides replacing natural gas in power generation, and chemical manufacturing, it can also be used for long-distance transportation. Further, green hydrogen produces no noise or visual pollution, reduces carbon footprints, and is excellent for consumption in remote locations.
Producing Green Hydrogen Requires a Lot of Natural Resources
It is critical to have an abundance of natural resources to produce green hydrogen. The Middle East is the hub of renewable resources, and its existing photovoltaic and wind energy projects are proof of it. The cheap cost of solar energy in the region demonstrates that it has a significant competitive advantage in producing green hydrogen from widely available natural resources. Renewable energy capacity in the Middle East has risen to 40 gigawatts in the past decade. A single-site concentrated solar power plant project, $3.9 billion Noor Energy, is the world’s biggest project, which is in progress in Dubai. The project will be producing 700 megawatts of CSP and 250 megawatts of photovoltaics.
