KUWAIT CAME IN LAST PLACE IN MIDDLE EAST AND NORTH AFRICA FOR GREEN HYDROGEN PROJECTS

  • 02/10/2022

Kuwait City: MEED magazine ranked Kuwait last on its list of green hydrogen projects in the Middle East and North Africa, with only $15 million invested. Egypt ranked first with $63.8 billion in projects, followed by Oman and Morocco in second and third place with $48.9 billion and $16.850 billion, respectively, and Saudi Arabia and the UAE in fourth and fifth place with $10.5 billion and $10.28 billion, respectively. Qatar, on the other hand, has no ranking. 


According to MEED, there are approximately 50 known and planned green hydrogen and ammonia projects in the Middle East and North Africa region that require investments of at least $150 billion. According to experts, commercial banks are interested in hedging the risks of financing hydrogen projects and want to be comfortable with the risks they face. 

Experts said on the sidelines of the ongoing WETEX and Dubai Solar Show in Dubai that green hydrogen projects need clear regulations, including a global consensus on certification, as well as rapid expansion of electrolyzer production, to be bankable. "The market is now in recovery, and we need to get enough projects while managing risks," said Manuel Cohn, vice president of global hydrogen sales and new energy business at Siemens Energy. With its two gigatonnes of electrolyzer requirement, a single project like the $6.5 billion NEOM Green Hydrogen and Ammonia Facility could "eat up" current production capacity.

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