Saudi Arabia and Germany have signed a Memorandum of Understanding (MoU) to boost cooperation on the production and exploitation of hydrogen.
 
According to Independent Commodity Intelligence Services, Saudi Arabia’s Minister of Energy, Prince Abdulaziz bin Salman, said the MoU will build on existing Saudi-German dialogue on energy developments aimed at achieving the goals of the Paris Agreement on climate change, with a focus on reducing greenhouse gas emissions.
 
The world’s first large scale green hydrogen plant is currently under construction at Neom city, on the Red Sea coast.
 
Officials hope the $5 billion Air Products JV will be the first phase of a mission to turn the country into a global hydrogen hub.
 
Last year, Saudi Aramco shipped the world’s first cargo of blue hydrogen, with ammonia identified as a key carrier for hydrogen given existing shipping and logistics infrastructure and relatively lower transport costs.
 
On the German side, the MoU was signed by Peter Altmayer, Federal Minister for Economic Affairs and Energy. –Tradearabia News Service