Riyadh: The Kingdom of Saudi Arabia’s energy minister Prince Abdulaziz bin Salman on Sunday said the country’s key focus is to be the world’s largest supplier of hydrogen, the Saudi Green Initiative (SGI) reported.
A large portion of gas from the $110 billion Jafurah development (gas field) will be used for blue hydrogen, according to Energy Minister Abdulaziz bin Salman. The blue hydrogen is made by converting natural gas and capturing carbon dioxide emissions.
Prince Abdulaziz bin Salman, while speaking at a Youth Green Summit in Riyadh said, “We are the biggest adventurers when it comes to blue hydrogen. We’re putting our money where our mouth is on hydrogen. We have a terrific gas base in Jafurah we will use it to generate blue hydrogen.”
The minister said the Kingdom is the best and biggest supplier of oil and that it has been progressing towards chemical production. Prince Abdulaziz also highlighted that Saudi Arabia produces the cheapest renewable energy when it comes to solar and wind.
It is reported that Saudi Arabia also plans to sell green hydrogen, which is produced using renewable energy – usually solar and wind energy – in a process that generates no carbon emissions. The kingdom also plans to manufacture electric cars, the minister added.
Earlier reports stated that the Saudi energy company Aramco was considering opening the Jafurah field in the east of the country to foreign investors. The company also works with advisors to increase equity or debt for the extensive site. Estimated data indicates that Jafurah may contain 200 trillion cubic feet of gas and the Saudi company is likely to start production in 2024.
Meanwhile, on October 23, 2021, Saudi Arabia’s Crown Prince Mohammed bin Salman said the world’s top oil exporter aims to reach zero-net emissions by 2060.
“The Kingdom of Saudi Arabia aims to reach zero-net emissions by 2060 under its circular carbon economy programme … while maintaining the kingdom’s leading role in strengthening security and stability of global oil markets,” Prince Mohammed said.
The Crown Prince indicated that the Kingdom will join a global initiative to reduce methane emissions by 30 percent from 2020 levels by 2030.