In figures, Egypt is ahead of Saudi Arabia and the UAE in the future fuel race

The official report of the Organization of Arab Petroleum Exporting Countries (OAPEC) reveals the position of the Arab countries in the competition for the hydrogen market, which most countries of the world rely on as the fuel of the future.

The published report titled “Development of LNG and Hydrogen in the second and third quarters of 2022” indicates that during 2022, the Arab countries showed unprecedented activity in order to increase international cooperation and partnership in the field of hydrogen.

The OAPEC report indicated that a large number of Arab countries are seeking to implement mega projects and several MoUs have been signed, some based on the production of green hydrogen and green ammonia, and others based on the expansion of the production of blue hydrogen or its derivatives such as blue ammonia. , among other applications Hydrogen in land, sea and air transport.

The OAPEC report confirms that several Arab countries have set specific targets with a timeline for hydrogen production and a target share in global trade, reflecting their desire to enter a promising market in the future and gain an important market share.

The report indicates that by the end of the third quarter of this year (2022), the number of announced projects for the production and use of hydrogen in the Arab countries increased to 61 projects.
Egypt came out on top among the Arab countries in the number of hydrogen projects announced, with 23 projects in total until the end of September 2022, followed by the UAE with 12 projects, then the Sultanate of Oman with 9 projects and Saudi Arabia with 8 projects.

In fifth place is Morocco with 3 projects, followed by Mauritania and Iraq with two projects, while Algeria, Djibouti, Jordan and Qatar each announced one project.

In the second and third quarters of 2022, the Suez Canal Economic Zone in Egypt signed an unprecedented number of MoUs with several regional and international companies to implement green hydrogen and green ammonia projects, totaling 15 MoUs and agreements. .

The MoUs and agreements have increased the number of announced hydrogen projects in Egypt by the end of September 2022 to 23 projects, most of which concern the production of green hydrogen and green ammonia.

The OPEC report, prepared by Wael Abdel Moati, says that Egypt tops the list of Arab countries in terms of the number of announced projects, which confirms its importance as a main investment destination for companies wishing to invest in this promising sector, taking advantage of its natural resources and geographical location. close to European markets.

Source: Energy Platform