Saudi Arabia to start building $5bn green hydrogen plant
RIYADH, March 18, 2022
Saudi Arabia is expected to begin building a green hydrogen plant costing $5 billion this month, according to a Bloomberg report.
The project in NEOM, a new city being built in in northwestern Saudi Arabia, is on track to sell carbon-free hydrogen from 2026, said the report quoting Peter Terium, the head of energy and water for the new region.
Engineers have finished flattening the site and US-based Air Products & Chemicals will soon begin building the facility, he said.
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.
