(MENAFN- Asdaf News)
“Fueling the Future: Unleashing Business Opportunities with Green Hydrogen” where major players from the public and private sectors came together to explore the future prospects of the hydrogen industry, at the Rosh Rayhaan by Rotana Hotel, Tuesday.
The EU-GCC Dialogue on Economic Diversification Project and the European Union Delegation to the Kingdom of Saudi Arabia jointly hosted the event, which served as a forum to examine the enormous potential and game-changing effects of green hydrogen as a propellant for sustainable development and decarbonization.
The GCC nations have a strong position in the upcoming hydrogen market. Particularly Saudi Arabia, Oman, and the UAE have made ambitious plans to develop a hydrogen market. As a result, the European Union finds the area to be a desirable partner. In addition to highlighting the future import requirements, the EU's Green Deal and Hydrogen Strategy emphasise the necessity of fostering international collaboration regarding hydrogen technology.
The first speaker, Jitendra Roychoudhury, Fellow at King Abdullah Petroleum Studies and Research Center (KAPSARC)painted a vivid picture of Saudi Arabia's hydrogen production capacities and EU import needs, and how the convergence of these factors can spur lucrative business partnerships.
Alessandro Polito, Policy Officer at the European Commission, Directorate General for Energy, presented the EU's Hydrogen Strategy and the international dimension of the EU Hydrogen market. His insights on H2Global and the European Hydrogen Bank highlighted unique trade and investment opportunities, drawing significant interest from participants.
Finally, Markus Exenberger, Executive Director of H2Global Foundation, discussed the role of H2Global/HINTCO in ramping up supply chains. He emphasized the potential of Power-to-X (also known as PtX or P2X which is a collective term for conversion technologies that turn electricity into carbon-neutral synthetic fuels) products for sustainable hydrogen production, which could open new business opportunities. Additionally, he emphasized the importance of sustainability standards for pre-qualification in the hydrogen industry, which are crucial for accessing potential business opportunities.
The event concluded with a joint discussion involving all speakers, focusing on the business opportunities and challenges for KSA and the EU in the context of green hydrogen.
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