How the GCC can become a force in global green hydrogen

How the GCC can become a force in global green hydrogen

The rapid shift to green hydrogen presents Gulf Cooperation Council (GCC) countries with an opportunity to play a leading role in this new industry. Green hydrogen could become a major and versatile power source of the decarbonized future. By 2050, global green hydrogen demand is expected to exceed 530 million tons, equivalent to around 7 percent of global primary energy consumption. This would displace 10 billion of barrels of oil equivalent per year, around 37 percent of current global oil production. Strategy& report highlights the best ways for GCC producers to supply large export markets by using renewable energy to produce and convert green hydrogen to green ammonia. “The green hydrogen economy is coming but will entail building a new energy ecosystem with unique requirements and, as