Abu Dhabi, UAE – The GCC is poised to play a key role in the world’s much anticipated future hydrogen market, with the UAE, Saudi Arabia and Oman looking to become leaders in the export of clean fuel, which will help drive the evolution of the region’s energy sector, according to a new report by the World Future Energy Summit.

Coming a week ahead of the World Future Energy Summit - the leading business event for future energy and sustainability which runs at Abu Dhabi National Exhibition Centre from January 16-18 – the report, commissioned from business consultancy Frost & Sullivan, paints a picture of huge opportunity for the region.

The report highlights that with GCC countries seeking to achieve energy sustainability through a combination of renewable energy integration, energy-efficiency implementations and hydrogen production and transport, the region’s energy sector is set for wide-scale evolution.

“Hydrogen has gained increasing recognition as a key contributor to the evolution of the energy sector and is expected to play a key role in decarbonising the economy across end-use sectors in the GCC,” says the report. It adds: “GCC countries, especially the UAE, Saudi Arabia and Oman, are working on national strategies aimed at developing the hydrogen market in the region and positioning themselves as future hydrogen exporters.”

GCC countries currently use large quantities of natural gas-based grey hydrogen, and the availability of low-cost natural gas coupled with the ease of carbon capture, utilisation and storage allows for the cost-competitive production of blue hydrogen though the GCC has several competitive advantages to play a key role in the global green hydrogen economy. These advantages include solar and wind resources, financial capabilities, and export potential.

“Not only does the region have strong connectivity with developed economies in Europe, but a network of ports and pipeline infrastructure provides the region access to fast-growing markets in Asia and Africa. These trade routes and connectivity are expected to play a key role in hydrogen transportation, which would prove critical in meeting end-user demand for the fuel as future large demand markets such as Europe and Japan could face challenges in ramping up hydrogen production to meet demand requirements,” says the report.

The report recommends the region acts quickly to leverage a first-mover advantage and commit investments to achieve future cost competitiveness in the wake of rising competition from regions in North Africa, Europe, and Australia.

The report comes ahead of the World Future Energy Summit 2023, which will have a strong focus on the sector’s potential through the new Green Hydrogen Innovation Hub, catering to start-ups and SMEs. Embracing the upward momentum, the World Future Energy Summit will also be producing three dedicated podcasts on the topic as the first in a series centred around renewable energy, sustainability, and climate change.

“Summit goers will get deep insights into the current and future solutions enabling hydrogen to play a critical role in the energy transition,” commented Leen AlSebai, Head of World Future Energy Summit and General Manager of RX Middle East, the event’s organiser. “The entire hydrogen eco-chain will be examined along with the key technologies that will enable the production, transport, storage and use of green hydrogen.”

Other hydrogen-related companies taking part at the World Future Energy Summit include the U.S. company Ohmium International who will be showcasing its cutting-edge Proton Exchange Membrane (PEM) electrolyser technology, which converts renewable energy to emission-free hydrogen. Ohmium International’s CEO, Arne Ballantine, says the company will be looking to meet organisations who want to realise the potential of green hydrogen to deliver on their decarbonisation and sustainability goals.

“Ambitious net-zero commitments and increased collaboration are accelerating the pace of change and support for the UAE’s Net Zero by 2050 goal. It’s great to see companies across the energy, steel, and cement industries working alongside the Ministry of Climate Change and Environment to reduce carbon emissions, many of which are likely to be met through the deployment of green hydrogen,” he said.

“The potential for green hydrogen in the Middle East and North African region is significant. The rich renewable resources make the region one of the best locations for green hydrogen production. However, speed of implementation will be key if the region is to fully realize its potential as a green hydrogen and renewable energy powerhouse.”

The World Future Energy Summit is hosted by Masdar and is part of Abu Dhabi Sustainability Week, a global platform for accelerating the world’s sustainable development. The event is also, for the first time ever, held in partnership with ENOWA.

For more information on the event and how to be involved, please visit https://www.worldfutureenergysummit.com
For more information on the Innovation Hub and Summit, please visit https://www.worldfutureenergysummit.com/en-gb/content-hub/form.html

-Ends-

About World Future Energy Summit

The annual World Future Energy Summit in Abu Dhabi is the world’s leading business event and exhibition for future energy, clean-tech, and sustainability. Bringing together government and business leaders, it showcases pioneering technologies and ground-breaking initiatives in energy, energy efficiency, water, solar, waste, smart cities, climate and environment.

As a global hub for business, innovation, and knowledge exchange at the heart of Abu Dhabi Sustainability Week, the World Future Energy Summit inspires the advancement and transfer of ideas, technology, and investment across borders and between the public and private sectors worldwide. The exhibition and industry forums help stimulate sustainable growth for all stakeholders. For more information, please visit www.worldfutureenergysummit.com 

About Abu Dhabi Sustainability Week

Abu Dhabi Sustainability Week (ADSW) is a global platform for accelerating the world’s sustainable development. The week brings together a unique fusion of policy makers, industry specialists, technology pioneers and the next generation of sustainability leaders. Through its initiatives and events, ADSW is a catalyst for sharing knowledge, implementing strategies, and delivering solutions to drive human progress. ADSW is committed to furthering our understanding of the major social, economic, and environmental trends shaping the world’s sustainable development. For more information, visit www.abudhabisustainabilityweek.com 

About Masdar

Abu Dhabi’s renewable energy company Masdar is advancing the commercialization and deployment of renewable energy, sustainable urban development, and clean technologies to address global sustainability challenges. Wholly owned by Mubadala Investment Company, the strategic investment company of the Government of Abu Dhabi, our mandate is to help maintain the UAE’s leadership in the global energy sector, while supporting the diversification of both its economy and energy sources for the benefit of future generations. Masdar’s renewable energy projects are in the UAE, Jordan, Mauritania, Egypt, Morocco, the UK, Serbia, and Spain. For more information about Masdar, please visit: www.masdar.ae. Stay connected: facebook.com/masdar.ae and twitter.com/masdar 

About RX (Reed Exhibitions)

RX is in the business of building businesses for individuals, communities and organisations. We elevate the power of face to face events by combining data and digital products to help customers learn about markets, source products and complete transactions at over 400 events in 22 countries across 43 industry sectors. RX is passionate about making a positive impact on society and is fully committed to creating an inclusive work environment for all our people.  RX is part of RELX, a global provider of information-based analytics and decision tools for professional and business customers. www.rxglobal.com 

About RELX

RELX is a global provider of information-based analytics and decision tools for professional and business customers. RELX serves customers in more than 180 countries and has offices in about 40 countries. It employs more than 33,000 people over 40% of whom are in North America. The shares of RELX PLC, the parent company, are traded on the London, Amsterdam and New York Stock Exchanges using the following ticker symbols: London: REL; Amsterdam: REN; New York: RELX.

*Note: Current market capitalisation can be found at http://www.relx.com/investors