RUS | ENG | All
Enter the email or login, that you used for registration.
If you do not remember your password, simply leave this field blank and you will receive a new, along with a link to activate.

Not registered yet?
Welcome!

2022-02-01 14:25:00

SAUDI ARABIA'S NEOM $500 BLN

SAUDI ARABIA'S NEOM $500 BLN

PLATTS - 30 Jan 2022 - Saudi Arabia's planned $500 billion futuristic city known as Neom is set to issue its first tenders to build a renewable power grid later this year, according to the executive director of Neom Energy.

"Regarding the technical design of our high voltage power grid, we expect to reach out to the market later this year," Jens Madrian told S&P Global Platts in an interview.
The first tender packages to be issued will be in the range of 400 MW to 800 MW, he added.

"Not huge, but it's reasonably sized at this stage, with way more to come," Madrian said.

Neom, which will be built along Saudi Arabia's borders with Jordan and just across the narrow Strait of Aqaba from Egypt's Sinai Peninsula, is a linchpin of the world's largest oil exporter's plans to diversify its fossil fuels-dominated economy. It will be home to one of the world's largest green hydrogen projects and is expected to span across 26,500 sq km. It is also expected to function as a carbon-neutral city that will be able to accommodate up to 1 million people.

Energy consumption from the planned region is expected to be around 50 TWh to 60 TWh "at the very minimum," Madrian said. "We could also see a substantial growth depending on the uptake of energy-intensive industries which are in demand of 100% renewable power supply," he said.

Energy industry activities will include the planned green hydrogen project as well as renewables-based desalination for both public consumption and for use in electrolysis to produce green hydrogen.

Saudi Arabia is building one of the world's biggest green hydrogen projects in Neom. The project developed by Riyadh-based ACWA Power and Air Products will be completed by Q1 of 2026. It will produce 240,000 mt/year of green hydrogen, which will in turn be processed into 1.2 million mt/year of ammonia.

Power consumption
Neom will look to tap 8 GW to 10 GW of wind power and between 16 GW and 20 GW of solar power generation based on its current set of assumptions, Madrian said.

With new planned additions such as the Oxagon industrial city and The Line, which will have no cars and no streets, demand for energy is expected to be considerably higher.

"If demand in Oxagon, Neom's re-imagined industrial city, would pick up on large industrial customers, need for additional renewable supply will increase correspondingly," Madrian said.

A big challenge for the development is to provide clean drinking water with low energy impact.

The arid oil-producing regions of the Middle East account for nearly half of the world's desalination capacity.

The plants operate on largely natural gas-powered generation, which accounts for a significant chunk of overall electricity demand.

Neom, which plans to have zero-carbon impact, could tap into Saudi Arabia's geothermal energy reserves as well as use large-scale concentrated solar power to produce clean water, Madrian said.

"You can go down the route of supplying power on a stand-alone basis and source heat from somewhere else," he said. "Or you can do it in an integrated fashion and could consider concentrated solar power (CSP) and geothermal. With regard to renewables at Neom, everything is on the table, and we're looking essentially at every opportunity."

-----


Earlier:

SAUDI ARABIA'S NEOM $500 BLN
2022, January, 27, 12:15:00
SAUDI, IRAQ POWER GRID 1 GW
“the Iraqi-Saudi cooperation is not limited to the electrical connection only, but rather it is the beginning of a joint collective action,” Iraqi News Agency reported, citing the Prince.
SAUDI ARABIA'S NEOM $500 BLN
2022, January, 21, 10:45:00
SAUDI ARABIA'S HYDROGEN
Private sector firms in Saudi Arabia will be encouraged to import hydrogen-powered vehicles as part of the Kingdom's green iniative
SAUDI ARABIA'S NEOM $500 BLN
2022, January, 14, 11:50:00
SAUDI ARABIA, TUNISIA RENEWABLES
The agreement includes cooperation in the fields of demand management for renewable energy, reliable and sustainable operating of energy systems, and standard indicators of energy consumption in the industrial sector.
SAUDI ARABIA'S NEOM $500 BLN
2022, January, 13, 13:50:00
SAUDI ARABIA RENEWABLES 15 GW
Saudi Arabia plans to generate 15109 gigawatt hours of electricity from renewable sources by 2024, supplying 692,557 houses with energy, the Kingdom's Gastat said on its website.
SAUDI ARABIA'S NEOM $500 BLN
2021, December, 13, 12:35:00
SAUDI ARABIA, KUWAIT OIL PRODUCTION RISE
The Neutral Zone fields, which lie in onshore and offshore territory shared by Saudi Arabia and Kuwait at their border, were offline for more than four years until 2020, due to a political dispute that was resolved with a signing of an agreement in December 2019.
SAUDI ARABIA'S NEOM $500 BLN
2021, November, 18, 13:05:00
SAUDI, EGYPT WIND POWER 1.1 GW
Egypt targets 20% of electricity production from renewables in 2022 (10% achieved in 2020) and 42% for 2030, with 25% from solar, 14% from wind, and 2% from hydropower.
SAUDI ARABIA'S NEOM $500 BLN
2021, November, 1, 13:25:00
SAUDI ARAMCO NET INCOME $30.4 BLN
The Saudi Arabian Oil Company (“Aramco” or “the Company”) announced its third quarter financial results, recording a 158% year-on-year (YoY) increase in net income to $30.4 billion and declaring a dividend of $18.8 billion to be paid in the fourth quarter.
All Publications »
Tags: SAUDI, ARABIA, NEOM, ENERGY,
Chronicle:
SAUDI ARABIA'S NEOM $500 BLN
2022, October, 6, 13:04:00
2022 SAUDI PIPELINES INTERNATIONAL CONFERENCE & EXIBITIONS
Eventat Co (a Saudi local company) is hosting the first-ever “2022 Saudi Pipelines International Conference & Exhibitions” from 4-6 October, 2022 at the Dhahran Expo, Dammam (Eastern Province), Kingdom of Saudi Arabia. The three-day conference and exhibition are dedicated to bringing together over “50+ Regional/International speakers, 100+ Sponsors/Exhibitors, 1000+ Delegates and 3000+ Visitors” from around the globe who carry significant interest in enhancing the pipelines lifecycle for the current and future.
SAUDI ARABIA'S NEOM $500 BLN
2022, October, 6, 13:03:00
INTERNATIONAL CONGRESS AND EXIBITION TURKEY & BLACK SEA OIL AND GAS
International Congress and Exhibition Turkey & Black Sea Oil and Gas is an international, professional platform, bringing together over 200 C-suite executives from vertically integrated oil companies, general directors, CTOs of oil refineries, gas processing plants and petrochemical facilities, initiators of investment projects on oil and gas extraction from Turkey and countries of the Black Sea area, officials of regulatory authorities, licensors of production technologies and world suppliers for the industry.
SAUDI ARABIA'S NEOM $500 BLN
2022, October, 6, 13:02:00
TRANSPORTATION OIL AND GAS CONGRASS 2023 (TOGC 2023)
Transportation Oil and Gas Congress 2023 (TOGC 2023) takes place on February 20-21, 2023. The Congress brings together representatives from the whole pipeline chain and focuses on both strategic and technical issues of the oil and gas pipeline transportation.
SAUDI ARABIA'S NEOM $500 BLN
2022, October, 6, 13:01:00
Pipelines In A Sustainable Future And Other Highlights Of TOGC 2023(TOGC 2023)
Transportation Oil and Gas Congress (TOGC) is held on February, 20-21, 2023, Istanbul, Türkiye. During 2 days of intensive networking participants get direct access to the whole pipeline chain. Among the highlights of the program are Panels, show type sessions based on discussion between panelists. They discuss the role of pipelines in a sustainable future, digital transformation and optimization of the pipeline industry, pipeline economics and pipeline integrity, H2 in Gas Grid.
SAUDI ARABIA'S NEOM $500 BLN
2022, October, 6, 13:00:00
RUSSIAN NUCLEAR FOR BRAZIL
Russia and Brazil already have ties in the nuclear energy field with an MoU signed in 2017 by Rosatom and Brazil’s Electrobras and Electonuclear to promote cooperation in nuclear power.
SAUDI ARABIA'S NEOM $500 BLN
2022, October, 6, 12:59:00
9TH INTERNATIONAL LNG CONGRESS LNGCON 2023
9th International LNG Congress (LNGCON 2023) 6-7 March, 2023 Link to the Congress website: https://bit.ly/3tXVmr7
SAUDI ARABIA'S NEOM $500 BLN
2022, October, 6, 12:58:00
DISCUSSING LNG MARKET TRENDS AT LNGCON 2023
The closed-door International LNG Congress 2023 assembles top-level management and technical representatives of the LNG industry to discuss prevailing questions and present innovative solutions in Dusseldorf, Germany on March, 6-7, 2023.
All Publications »