Saudi Arabia to start construction of $5 bln green hydrogen plant in Neom

Saudi Arabia to start construction of $5 bln green hydrogen plant in Neom

Saudi Arabia will start construction of a green hydrogen plant as soon as this month as it pushes ahead with plans to export the fuel in about four years.

The Kingdom is on track sell carbon-free hydrogen from a$5 billion project in Neom by 2026, according to Peter Terium, the head of energy and water for the new region. Engineers have finished flattening the site in northwestern Saudi Arabia and US-based Air Products & Chemicals Inc. will soon begin building the facility, he said.

For the latest headlines, follow our Google News channel online or via the app.There will probably be demand from companies from Asia to the US for the exports, Terium, who used to be chief executive officer of Germany’s RWE AG, said in an interview. Hydrogen is seen as pivotal for the transition to cleaner forms of energy.

“There’s a potential competition between Europe, Japan, South Korea and some parts of the US,” said Terium. Shipments will be sold “to those who bid the highest price.”

Saudi Arabia wants to be the world’s biggest exporter of hydrogen.

The fuel only emits water vapor when burned, making it less polluting than oil, natural gas and coal. The technology for producing it on