{"id":14286,"date":"2024-10-24T16:31:31","date_gmt":"2024-10-24T14:31:31","guid":{"rendered":"https:\/\/hydrogencouncil.com\/?p=14286"},"modified":"2024-11-14T16:44:18","modified_gmt":"2024-11-14T15:44:18","slug":"the-middle-east-has-the-chance-to-lead-on-hydrogen","status":"publish","type":"post","link":"https:\/\/hydrogencouncil.com\/en\/the-middle-east-has-the-chance-to-lead-on-hydrogen\/","title":{"rendered":"The Middle East has the chance to lead on hydrogen"},"content":{"rendered":"\t\t
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This article was first published in AGBI<\/a>.<\/strong><\/p>\n

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By Ivana Jemelkova, CEO, Hydrogen Council<\/em><\/p>\n

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In this era of global energy transition, the Middle East is uniquely positioned to exploit its resources and expertise to lead the global hydrogen charge. <\/p>\n

With its vast renewable energy potential, strategic geographic location and extensive experience in large-scale energy projects, the region can play a pivotal role in advancing the global energy transition<\/a>. <\/p>\n

As countries such as the UAE and Saudi Arabia invest in giga-scale renewable hydrogen projects<\/a>, it exemplifies the broader global trend of advancing clean hydrogen deployment. <\/p>\n

The Hydrogen Council\u2019s latest report, Hydrogen Insights 2024<\/em>, takes stock of the industry\u2019s progress over the past four years. The study highlights that the global clean hydrogen project pipeline is growing and maturing, with an increase in projects reaching final investment decision (FID). <\/p>\n

However, at the same time, the pace and scale of deployment must accelerate dramatically by 2030 to meet the mid-century global climate goals.<\/p>\n

Based on data from 1,500 projects worldwide, the report\u2019s analysis shows a record US$75 billion in committed capital for projects reaching FID globally, not just announcements. This is a seven-fold increase in the past four years. <\/p>\n

The global hydrogen project pipeline has grown significantly, expanding from 228 projects in 2020 to 1,572 in May 2024. Notably, investments in advanced projects past the final investment decision stage increased by 90 percent between October 2023 and May 2024. <\/p>\n

Total announced investments through to 2030 have reached $680 billion, a 20 percent increase.<\/p>\n

Meanwhile, the report also highlights the Middle East\u2019s growing role in the global hydrogen industry.<\/p>\n

A significant contribution is the region\u2019s investment in giga-scale renewable hydrogen projects, including one in Saudi Arabia that has passed the FID stage with a capacity of 0.3 million tonnes per annum.<\/p>\n

The Middle East accounts for approximately 10 percent of the world\u2019s electrolysis capacity beyond the FID stage, indicating a strong commitment to advancing hydrogen infrastructure. Additionally, 45 percent of the region\u2019s committed investments are directed towards hydrogen infrastructure.<\/p>\n

This clear shift across the regional and global project pipeline from announcements to implementation is coupled with natural attrition. This indicates industry maturation as less viable projects are eliminated and those with the highest potential prioritised, a pattern also seen in the early stages of other clean energy industries such as wind and solar.<\/p>\n

While the seven-fold rise in capital for hydrogen projects reaching the FID stage marks significant industry progress, macroeconomic headwinds \u2013 as well as sector-specific challenges such as regulatory uncertainty, rising costs for renewable energy and supply chain bottlenecks \u2013 are delaying projects, particularly in renewable hydrogen. <\/p>\n

Governments need to establish clear, long-term regulatory frameworks to build investor trust in hydrogen enabling demand-side visibility.<\/p>\n

This is a key prerequisite for scaling up renewable energy production and electrolyser manufacturing, alongside investment support for midstream infrastructure. <\/p>\n

Equipped with concrete lessons learned from the past four years, we must urgently address challenges in major markets. There must be a joint effort by decision-makers in government and industry to create a more favourable environment for project execution. <\/p>\n

Hydrogen\u2019s role in enabling the global energy transition, boosting energy security and system resilience is now fully recognised. What\u2019s more, data shows that deployment is progressing. <\/p>\n

Yet, to meet our mid-century targets and drive sustainable economic growth, we need another significant investment jump. With the Middle East\u2019s capacity for strategic investments and commitment to becoming a global hydrogen hub, the region will prove instrumental in this acceleration. <\/p>\n

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The pace and scale of deployment must accelerate to meet mid-century climate goals.<\/p>\n","protected":false},"author":9,"featured_media":14288,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[81,87,82,79,83,84,78,74,152,85,86,77,80,96,112],"tags":[145],"class_list":["post-14286","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-africa","category-article","category-asia-pacific","category-category","category-central-south-america","category-europe","category-format","category-hydrogen-in-action","category-market-overview","category-middle-east","category-north-america","category-region","category-subject-matter","category-thought-leadership","category-trade","tag-thought-leadership"],"acf":[],"yoast_head":"\nThe Middle East has the chance to lead on hydrogen | Hydrogen Council<\/title>\n<meta name=\"description\" content=\"The pace and 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