Saudi-Japanese Feasibility Study for Producing Clean Hydrogen for Local, Int’l Markets

Saudi-Japanese Feasibility Study for Producing Clean Hydrogen for Local, Int’l Markets

Japan’s Marubeni Corp. has agreed to study clean hydrogen production in Saudi Arabia together with the Kingdom’s sovereign Public Investment Fund (PIF).

Saudi Arabia, a leading oil-producing nation and a key player in the Organization of the Petroleum Exporting Countries, is looking to add other types of energy sources, including cleaner fuels and renewables, to diversify its economy.

According to Reuters, Marubeni and PIF, central to the Kingdom's goal to cut reliance on oil, agreed to conduct a feasibility study for producing clean hydrogen for both domestic and international markets.

In early February, Saudi Arabia’s Ministry of Industry and Mineral Resources issued the first industrial operating license for NEOM Green Hydrogen Company (NGHC) - an equal joint venture between NEOM, ACWA Power and Air Products.

This step came as part of NEOM’s efforts and its ambitious vision to develop innovative sustainable solutions to address key global challenges, the foremost of which is climate change.

When complete, NGHC will be the largest at-scale green hydrogen production company in the world based in Oxagon, home to advanced and clean industries in NEOM, with a next generation port and fully automated and integrated supply chain and logistics network.

It is expected that the NGHC plant will start producing green