UAE HYDROGEN DEVELOPMENT $122 BLN
U.S. ITA - The UAE is planning to develop a hydrogen industry ecosphere, and this may create new opportunities for U.S. companies.
A new “Hydrogen Alliance” was launched by the UAE Ministry of Energy and Infrastructure and three of Abu Dhabi’s largest government-backed companies (Mubadala Investment Company, Abu Dhabi National Oil Company, and ADQ) in January 2021 to produce blue and green hydrogen by using both natural gas and renewable energy, and to market it overseas as well as in the United Arab Emirates.
ADNOC is set to spend $122 billion over the next five years, partly to ramp up oil-production capacity to five million barrels a day by 2030 from nearly four million currently. This plan is also intended to make the UAE self-sufficient in gas and covers the development of hydrogen.
- Potential partnerships or opportunities with ADNOC, Mubadala and ADQ once a clear strategy has been set by this newly formed alliance;
- Collaboration in the production of low-cost blue and green hydrogen in the UAE directly or by partnering with well-established U.S. corporations;
- Development of end-use applications for clean hydrogen to create a demand for it and contribute to the UAE’s export of hydrogen; and
- Development of security features for the handling of hydrogen.