• Upstream
  • Pipelines & Transport
  • Downstream
Oil&Gas Advancement
  • Home
  • News
    MMEC 2021 is 4 weeks away!

    MMEC 2021 is 4 weeks away!

    Ancala Midstream secures gas transportation and processing contracts with Lundin Energy Norway

    Ancala Midstream secures gas transportation and processing contracts with Lundin Energy Norway

    Upwing Energy awarded 10 new patents for technology innovation in downhole rotating devices

    Spain’s Cepsa expects COVID-19 to keep squeezing oil refining margins

    Gazprom makes first delivery of carbon-neutral LNG to Europe

    Gazprom makes first delivery of carbon-neutral LNG to Europe

    Chevron's Interest in Leviathan Field Led to $5 Bln Bid for Noble Energy

    Chevron to build California carbon capture plant

    Exxon posts deepest-ever loss as Covid-19 destroys global oil demand

    Angola to allow oil and gas drilling in some nature preservation zones

    Total-Eni partnership in offshore gas drilling

    Baker Hughes and Akastor ASA form global offshore drilling joint venture

    Digital technologies boosts earnings at Johan Sverdrup

    Westmount Energy announces commencement of drilling operations at Canje Block, Guyana

    Touchstone Exploration discovers oil and gas deposit onshore Trinidad

    Saudi Arabia takes steps to lead the $700B global hydrogen market

  • Projects
    Global oil and gas projects pipeline at US$4 trn

    Global oil and gas projects pipeline at US$4 trn

    BP begins gas production at West Nile Delta project

    BP begins gas production at West Nile Delta project

    Bechtel and Cheniere Deliver LNG Ahead of Schedule on US Gulf Coast

    Bechtel and Cheniere Deliver LNG Ahead of Schedule on US Gulf Coast

    ABB wins $79m order for Bab onshore project in Abu Dhabi

    Phillips 66 and Bridger Pipeline LLC Announce Open Season for Rockies and Bakken Crude Oil Pipeline System

    Phillips 66 and Bridger Pipeline LLC Announce Open Season for Rockies and Bakken Crude Oil Pipeline System

    BHP successful in bids for blocks in the offshore Orphan Basin in Eastern Canada

    Operational excellence and safety continue to be a key driver in oil and gas sector

    Gazprom plans to carry forward cost efficient in 2018

    TGS announces new seismic project in the Anadarko basin

  • Whitepapers

    OGA 2017 Post Show Report

    US Polyethylene Export Market Report 2017-2020

    US Polyethylene Export Market Report 2017-2020

    Embedded SSD Flash Management

    Enterprise SSD: More Than Just a New Kind of Hard Drive

    Efficiency, Visibility and Reliability Keys to lower costs and greater profitability in oil and gas operations

    Don’t Miss the Unconventional Resource Revolution’s Next Wave

    Better Safety, Better Business: Maintain Compliance and Drive Revenue: Put All of Your Data to Work

    Breaking the Application Barrier: Why Data is the Most Valuable Asset in the Oil and Gas Industry

    Drilling Optimization Through Advanced Analytics Using Historical and Real-Time Data

  • Press Releases
    UNOC to invest $840m in oil and gas sector

    Archer, Asystom partner for predictive maintenance in the oil and gas market

    Fugro to offer positioning services for Petronas Suriname drilling campaign

    Fugro to offer positioning services for Petronas Suriname drilling campaign

    Siemens Energy partners with ProFlex Technologies to provide IoT-based pipeline leak detection

    Siemens Energy partners with ProFlex Technologies to provide IoT-based pipeline leak detection

    Digital technologies boosts earnings at Johan Sverdrup

    Digital technologies boosts earnings at Johan Sverdrup

    Angola Oil & Gas Conference & Exhibition to return on 15-16 June 2021

    Angola Oil & Gas Conference & Exhibition to return on 15-16 June 2021

    ADNOC announces major rig fleet expansion program

    ADNOC invests $245 million to upgrade main oil lines and Jebel Dhanna Terminal

    ExxonMobil to sell Norway upstream operations for $4.5 billion

    ExxonMobil announces Redtail discovery offshore

    Saudi Aramco to acquire Shell’s share of the SASREF refining joint venture

    Aramco discovers two new oil and gas fields in northern Saudi Arabia

    Ampelmann and Olympic Shipping join forces in project for Ithaca Energy in the North Sea

    Faltering oil demand puts new pressure on OPEC+ production agreements

  • Market Reports
    CNOOC Limited Announces Key Operational Statistics for Q1 2020

    Aramco announces second quarter and half-year 2020 results

    bp agrees to sell its petrochemicals business to INEOS

    bp agrees to sell its petrochemicals business to INEOS

    Empire Pipeline Acquires Gibson Terminal In Terrebonne Parish, Louisiana

    CNOOC Limited Announces Key Operational Statistics for Q1 2020

    CNOOC Limited Announces Key Operational Statistics for Q1 2020

    Renewables: Total Continues to Expand its Footprint in Southeast Asia in Distributed Solar

    Renewables: Total Continues to Expand its Footprint in Southeast Asia in Distributed Solar

    ExxonMobil earns $3.2 billion in third quarter 2019

    ExxonMobil earns $3.2 billion in third quarter 2019

    BP to sell Alaska business to Hilcorp

    BP to sell Alaska business to Hilcorp

    Exxon Mobil Second Quarter 2019

    ExxonMobil Earns $3.1 Billion in Second Quarter 2019

    Equinor capitalizes shares

    Equinor capitalizes shares in Lundin Petroleum for increased direct ownership in Johan Sverdrup and a cash consideration

  • Events
  • Contact Us
No Result
View All Result
  • Home
  • News
    MMEC 2021 is 4 weeks away!

    MMEC 2021 is 4 weeks away!

    Ancala Midstream secures gas transportation and processing contracts with Lundin Energy Norway

    Ancala Midstream secures gas transportation and processing contracts with Lundin Energy Norway

    Upwing Energy awarded 10 new patents for technology innovation in downhole rotating devices

    Spain’s Cepsa expects COVID-19 to keep squeezing oil refining margins

    Gazprom makes first delivery of carbon-neutral LNG to Europe

    Gazprom makes first delivery of carbon-neutral LNG to Europe

    Chevron's Interest in Leviathan Field Led to $5 Bln Bid for Noble Energy

    Chevron to build California carbon capture plant

    Exxon posts deepest-ever loss as Covid-19 destroys global oil demand

    Angola to allow oil and gas drilling in some nature preservation zones

    Total-Eni partnership in offshore gas drilling

    Baker Hughes and Akastor ASA form global offshore drilling joint venture

    Digital technologies boosts earnings at Johan Sverdrup

    Westmount Energy announces commencement of drilling operations at Canje Block, Guyana

    Touchstone Exploration discovers oil and gas deposit onshore Trinidad

    Saudi Arabia takes steps to lead the $700B global hydrogen market

  • Projects
    Global oil and gas projects pipeline at US$4 trn

    Global oil and gas projects pipeline at US$4 trn

    BP begins gas production at West Nile Delta project

    BP begins gas production at West Nile Delta project

    Bechtel and Cheniere Deliver LNG Ahead of Schedule on US Gulf Coast

    Bechtel and Cheniere Deliver LNG Ahead of Schedule on US Gulf Coast

    ABB wins $79m order for Bab onshore project in Abu Dhabi

    Phillips 66 and Bridger Pipeline LLC Announce Open Season for Rockies and Bakken Crude Oil Pipeline System

    Phillips 66 and Bridger Pipeline LLC Announce Open Season for Rockies and Bakken Crude Oil Pipeline System

    BHP successful in bids for blocks in the offshore Orphan Basin in Eastern Canada

    Operational excellence and safety continue to be a key driver in oil and gas sector

    Gazprom plans to carry forward cost efficient in 2018

    TGS announces new seismic project in the Anadarko basin

  • Whitepapers

    OGA 2017 Post Show Report

    US Polyethylene Export Market Report 2017-2020

    US Polyethylene Export Market Report 2017-2020

    Embedded SSD Flash Management

    Enterprise SSD: More Than Just a New Kind of Hard Drive

    Efficiency, Visibility and Reliability Keys to lower costs and greater profitability in oil and gas operations

    Don’t Miss the Unconventional Resource Revolution’s Next Wave

    Better Safety, Better Business: Maintain Compliance and Drive Revenue: Put All of Your Data to Work

    Breaking the Application Barrier: Why Data is the Most Valuable Asset in the Oil and Gas Industry

    Drilling Optimization Through Advanced Analytics Using Historical and Real-Time Data

  • Press Releases
    UNOC to invest $840m in oil and gas sector

    Archer, Asystom partner for predictive maintenance in the oil and gas market

    Fugro to offer positioning services for Petronas Suriname drilling campaign

    Fugro to offer positioning services for Petronas Suriname drilling campaign

    Siemens Energy partners with ProFlex Technologies to provide IoT-based pipeline leak detection

    Siemens Energy partners with ProFlex Technologies to provide IoT-based pipeline leak detection

    Digital technologies boosts earnings at Johan Sverdrup

    Digital technologies boosts earnings at Johan Sverdrup

    Angola Oil & Gas Conference & Exhibition to return on 15-16 June 2021

    Angola Oil & Gas Conference & Exhibition to return on 15-16 June 2021

    ADNOC announces major rig fleet expansion program

    ADNOC invests $245 million to upgrade main oil lines and Jebel Dhanna Terminal

    ExxonMobil to sell Norway upstream operations for $4.5 billion

    ExxonMobil announces Redtail discovery offshore

    Saudi Aramco to acquire Shell’s share of the SASREF refining joint venture

    Aramco discovers two new oil and gas fields in northern Saudi Arabia

    Ampelmann and Olympic Shipping join forces in project for Ithaca Energy in the North Sea

    Faltering oil demand puts new pressure on OPEC+ production agreements

  • Market Reports
    CNOOC Limited Announces Key Operational Statistics for Q1 2020

    Aramco announces second quarter and half-year 2020 results

    bp agrees to sell its petrochemicals business to INEOS

    bp agrees to sell its petrochemicals business to INEOS

    Empire Pipeline Acquires Gibson Terminal In Terrebonne Parish, Louisiana

    CNOOC Limited Announces Key Operational Statistics for Q1 2020

    CNOOC Limited Announces Key Operational Statistics for Q1 2020

    Renewables: Total Continues to Expand its Footprint in Southeast Asia in Distributed Solar

    Renewables: Total Continues to Expand its Footprint in Southeast Asia in Distributed Solar

    ExxonMobil earns $3.2 billion in third quarter 2019

    ExxonMobil earns $3.2 billion in third quarter 2019

    BP to sell Alaska business to Hilcorp

    BP to sell Alaska business to Hilcorp

    Exxon Mobil Second Quarter 2019

    ExxonMobil Earns $3.1 Billion in Second Quarter 2019

    Equinor capitalizes shares

    Equinor capitalizes shares in Lundin Petroleum for increased direct ownership in Johan Sverdrup and a cash consideration

  • Events
  • Contact Us
No Result
View All Result
Oil&Gas Advancement
No Result
View All Result
Home News

Saudi Arabia takes steps to lead the $700B global hydrogen market

venkat by venkat
March 9, 2021
in News, Upstream
0
Touchstone Exploration discovers oil and gas deposit onshore Trinidad

Sun-scorched expanses and steady Red Sea breezes make the northwest tip of Saudi Arabia prime real estate for what the kingdom hopes will become a global hub for green hydrogen.

As governments and industries seek less-polluting alternatives to hydrocarbons, the world’s biggest crude exporter doesn’t want to cede the burgeoning hydrogen business to China, Europe or Australia and lose a potentially massive source of income. So it’s building a $5 billion plant powered entirely by sun and wind that will be among the world’s biggest green hydrogen makers when it opens in the planned megacity of Neom in 2025.

The task of turning a patch of desert the size of Belgium into a metropolis powered by renewable energy falls to Peter Terium, the former chief executive officer of RWE AG, Germany’s biggest utility, and clean-energy spinoff Innogy SE. His performance will help determine whether a country dependent on petrodollars can transition into a supplier of non-polluting fuels.

“There’s nothing I’ve ever seen or heard of this dimension or challenge,” Terium said. “I’ve been spending the last two years wrapping my mind around ‘from scratch,’ and now we’re very much in execution mode.”

Hydrogen is morphing from a niche power source — used in zeppelins, rockets and nuclear weapons — into big business, with the European Union alone committing $500 billion to scale up its infrastructure. Huge obstacles remain to the gas becoming a major part of the energy transition, and skeptics point to Saudi Arabia’s weak track record so far capitalizing on what should be a competitive edge in the renewables business, especially solar, where there are many plans but few operational projects.

But countries are jostling for position in a future global market, and hydrogen experts list the kingdom as one to watch.

That should mean plenty of potential customers for the plant called Helios Green Fuels. Saudi Arabia is setting its sights on becoming the world’s largest supplier of hydrogen — a market that BloombergNEF estimates could be worth as much as $700 billion by 2050.

“You’re seeing a more diversified portfolio of energy exports that is more resilient,” said Shihab Elborai, a Dubai-based partner at consultant Strategy&. “It’s diversified against any uncertainties in the rate and timing of the energy transition.”

Blueprints are being drawn and strategies are being announced, but it’s still early days for the industry. Hydrogen is expensive to make without expelling greenhouse gases, difficult to store and highly combustible.

Green hydrogen is produced by using renewable energy rather than fossil fuels. The current cost of producing a kilogram is a little under $5, according to the International Renewable Energy Agency.

Saudi Arabia possesses a competitive advantage in its perpetual sunshine and wind, and vast tracts of unused land. Helios’s costs likely will be among the lowest globally and could reach $1.50 per kilogram by 2030, according to BNEF. That’s cheaper than some hydrogen made from non-renewable sources today.

Previous Post

Aker signs contract to increase production at Asgard field offshore Norway

Next Post

Westmount Energy announces commencement of drilling operations at Canje Block, Guyana

Related Posts

MMEC 2021 is 4 weeks away!
News

MMEC 2021 is 4 weeks away!

March 25, 2021
Ancala Midstream secures gas transportation and processing contracts with Lundin Energy Norway
News

Ancala Midstream secures gas transportation and processing contracts with Lundin Energy Norway

March 9, 2021
Upwing Energy awarded 10 new patents for technology innovation in downhole rotating devices
News

Spain’s Cepsa expects COVID-19 to keep squeezing oil refining margins

March 9, 2021
Gazprom makes first delivery of carbon-neutral LNG to Europe
Downstream

Gazprom makes first delivery of carbon-neutral LNG to Europe

March 9, 2021
Chevron's Interest in Leviathan Field Led to $5 Bln Bid for Noble Energy
Downstream

Chevron to build California carbon capture plant

March 9, 2021
Exxon posts deepest-ever loss as Covid-19 destroys global oil demand
News

Angola to allow oil and gas drilling in some nature preservation zones

March 9, 2021
Next Post
Digital technologies boosts earnings at Johan Sverdrup

Westmount Energy announces commencement of drilling operations at Canje Block, Guyana

Latest Post

Exxon posts deepest-ever loss as Covid-19 destroys global oil demand
News

Angola to allow oil and gas drilling in some nature preservation zones

March 9, 2021
Total-Eni partnership in offshore gas drilling
Drilling

Baker Hughes and Akastor ASA form global offshore drilling joint venture

March 9, 2021
Digital technologies boosts earnings at Johan Sverdrup
Drilling

Westmount Energy announces commencement of drilling operations at Canje Block, Guyana

March 9, 2021
Touchstone Exploration discovers oil and gas deposit onshore Trinidad
News

Saudi Arabia takes steps to lead the $700B global hydrogen market

March 9, 2021
Aker signs contract to increase production at Asgard field offshore Norway
Downstream

Aker signs contract to increase production at Asgard field offshore Norway

March 9, 2021
The Gazprom Management Committee took note of the information about the progress of major investment projects.
News

Gazprom delivered the 1st carbon-neutral LNG to Europe

March 9, 2021
Oil&Gas Advancement

About Us

Oil and Gas Advancement is an information centric knowledge sharing platform focused on the latest news in the B2B oil and gas sector bringing to our audiences B2B updates on upstream, downstream, pipeline and transport categories providing information on the latest projects and developments.

Resources

  • Advertise with us
  • Contact Us
  • Newsletter Archive
  • Download Mediapack

System

  • Search
  • Site Map
  • RSS Feed
  • Upstream
  • Pipelines & Transport
  • Downstream

© 2018 Copyright Valuemediaservices 2018 All rights reserved.

No Result
View All Result
  • Home
  • News
  • Projects
  • Whitepapers
  • Press Releases
  • Market Reports
  • Events
  • Contact Us

© 2018 Copyright Valuemediaservices 2018 All rights reserved.