Hydrogen growth plans by the oil-exporting countries in the GCC could reap as much as $100 billion a year by 2050, according to a report by Columbia University and Qamar Energy.
The UAE and Saudi Arabia are advancing plans to produce blue and green hydrogen, leveraging existing hydrocarbon relationships to sell newer, cleaner forms of energy.
Green hydrogen is produced from renewable-powered electrolysis, while blue hydrogen is generated through steam methane reformation. Interest in hydrogen is gathering pace because it is viewed as an alternative transportation fuel and can power fuel cells in zero-emission vehicles, along with the high efficiency of fuel cells. Hydrogen can also run in modified internal combustion engines and can be used in manufacturing as an alternative to fossil fuels. Countries around the world are also considering blending hydrogen into e-fuels for aviation.
A conservative scenario for the growth of low-carbon hydrogen could lead to GCC countries meeting up to 10 per cent of European and East Asian requirements by 2050. The region could generate between $30bn and $40bn in annual revenues from sales up to about 20 million tonnes of hydrogen.
A more ambitious target could mean GCC countries providing 30 per cent of demand in Europe and East Asia. Export volumes could reach 50 million tonnes, generating between $80bn and $100bn in annual revenues, the report said.
Gulf oil exporters have already targeted sales of blue hydrogen to countries such as Japan, with Abu Dhabi National Oil Company signing three agreements to sell the cleaner fuel.
"The UAE priorities have to be defined. At the moment, a strong market pull for low-carbon hydrogen and related materials is emerging from Europe and Japan in particular," the report said.
Hydrogen could also be used in the domestic market as regional countries look at continued decarbonisation across various sectors.
"Low-carbon hydrogen represents a potential route to decarbonise domestic industry and to create new export streams, whether hydrogen directly, or hydrogen-derived industrial materials such as ammonia, plastics, synthetic fuels and steel," according to the report.
UAE companies, such as Emirates Steel, one of the largest companies in the country outside the oil sector, are looking to tap green hydrogen for manufacturing.
Hydrogen is being used as a reducing agent in steel production, replacing the more polluting coal, which countries around the world are seeking to phase out.
"To align with decarbonisation targets elsewhere, and measures such as an EU carbon border tariff, decarbonised materials (such as steel and ammonia) can be produced for export," the report said.
"As it already has with aluminium, the UAE could leverage competitive local low-carbon energy resources and preferred costs to become a leading international supplier of steel, chemicals and other hydrogen derivatives," it said.
On Tuesday, Abu Dhabi National Oil Company said it was looking to become a top exporter in blue hydrogen.
"Already at Adnoc, we produce about 300,000 tonnes of hydrogen a year," Dr Sultan Al Jaber, managing director and group chief executive of the state-owned oil company told an industry event on Tuesday.
"By leveraging our existing gas infrastructure and commercial-scale CCUS [carbon capture utilisation and storage] capabilities, the UAE can and will become a major player in the emerging blue hydrogen market," said Dr Al Jaber, who is also the UAE Minister of Industry and Advanced Technology.
This year, Adnoc, Mubadala and holding company ADQ formed an alliance for the development of green and blue hydrogen.
COMPANY PROFILE
Name: Rain Management
Year started: 2017
Based: Bahrain
Employees: 100-120
Amount raised: $2.5m from BitMex Ventures and Blockwater. Another $6m raised from MEVP, Coinbase, Vision Ventures, CMT, Jimco and DIFC Fintech Fund
Earth under attack: Cosmic impacts throughout history
- 4.5 billion years ago: Mars-sized object smashes into the newly-formed Earth, creating debris that coalesces to form the Moon
- 66 million years ago: 10km-wide asteroid crashes into the Gulf of Mexico, wiping out over 70 per cent of living species – including the dinosaurs.
- 50,000 years ago: 50m-wide iron meteor crashes in Arizona with the violence of 10 megatonne hydrogen bomb, creating the famous 1.2km-wide Barringer Crater
- 1490: Meteor storm over Shansi Province, north-east China when large stones “fell like rain”, reportedly leading to thousands of deaths.
- 1908: 100-metre meteor from the Taurid Complex explodes near the Tunguska river in Siberia with the force of 1,000 Hiroshima-type bombs, devastating 2,000 square kilometres of forest.
- 1998: Comet Shoemaker-Levy 9 breaks apart and crashes into Jupiter in series of impacts that would have annihilated life on Earth.
-2013: 10,000-tonne meteor burns up over the southern Urals region of Russia, releasing a pressure blast and flash that left over 1600 people injured.
UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
BMW M5 specs
Engine: 4.4-litre twin-turbo V-8 petrol enging with additional electric motor
Power: 727hp
Torque: 1,000Nm
Transmission: 8-speed auto
Fuel consumption: 10.6L/100km
On sale: Now
Price: From Dh650,000
Dubai World Cup prize money
Group 1 (Purebred Arabian) 2000m Dubai Kahayla Classic - $750,000
Group 2 1,600m(Dirt) Godolphin Mile - $750,000
Group 2 3,200m (Turf) Dubai Gold Cup – $750,000
Group 1 1,200m (Turf) Al Quoz Sprint – $1,000,000
Group 2 1,900m(Dirt) UAE Derby – $750,000
Group 1 1,200m (Dirt) Dubai Golden Shaheen – $1,500,000
Group 1 1,800m (Turf) Dubai Turf – $4,000,000
Group 1 2,410m (Turf) Dubai Sheema Classic – $5,000,000
Group 1 2,000m (Dirt) Dubai World Cup– $12,000,000
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THE BIO
Favourite author - Paulo Coelho
Favourite holiday destination - Cuba
New York Times or Jordan Times? NYT is a school and JT was my practice field
Role model - My Grandfather
Dream interviewee - Che Guevara
Results
3pm: Handicap (PA) Dh40,000 (Dirt) 1,000m; Winner: Dhafra, Antonio Fresu (jockey), Eric Lemartinel (trainer)
3.30pm: Maiden (PA) Dh40,000 (D) 2,000m; Winner: Al Ajayib, Antonio Fresu, Eric Lemartinel
4pm: Handicap (PA) Dh40,000 (D) 1,700m; Winner: Ashtr, Abdul Aziz Al Balushi, Majed Al Jahouri
4.30pm: Handicap (TB) Dh40,000 (D) 1,700m; Winner: Falcon Claws, Szczepan Mazur, Doug Watson
5pm: Sheikh Dr Sultan bin Khalifa Al Nahyan Cup – Prestige Handicap (PA) Dh100,000 (D) 1,700m; Winner: Al Mufham SB, Al Moatasem Al Balushi, Badar Al Hajri
5.30pm: Sharjah Marathon – Handicap (PA) Dh70,000 (D) 2,700m; Winner: Asraa Min Al Talqa, Al Moatasem Al Balushi, Helal Al Alawi
UAE currency: the story behind the money in your pockets
Our legal consultants
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
What can victims do?
Always use only regulated platforms
Stop all transactions and communication on suspicion
Save all evidence (screenshots, chat logs, transaction IDs)
Report to local authorities
Warn others to prevent further harm
Courtesy: Crystal Intelligence
Results
7pm: Wathba Stallions Cup – Handicap (PA) Dh70,000 (Dirt) 1,600m; Winner: RB Kings Bay, Abdul Aziz Al Balushi (jockey), Helal Al Alawi (trainer)
7.30pm: Maiden (PA) Dh 70,000 (D) 1,600m; Winner: AF Ensito, Fernando Jara, Mohamed Daggash
8pm: Maiden (PA) Dh70,000 (D) 1,400m; Winner: AF Sourouh, Tadhg O’Shea, Ernst Oertel
8.30pm: Maiden (PA) Dh70,000 (D) 1,800m; Winner: Baaher, Fabrice Veron, Eric Lemartinel
9pm: Maiden (PA) Dh70,000 (D) 2,000m; Winner: Mootahady, Antonio Fresu, Eric Lemartinel
9.30pm: Handicap (TB) Dh70,000 (D) 2,000m; Winner: Dubai Canal, Tadhg O’Shea, Satish Seemar
10pm: Al Ain Cup – Prestige (PA) Dh100,000 (D) 2,000m; Winner: Harrab, Bernardo Pinheiro, Majed Al Jahouri
The biog
Name: Mohammed Imtiaz
From: Gujranwala, Pakistan
Arrived in the UAE: 1976
Favourite clothes to make: Suit
Cost of a hand-made suit: From Dh550
WHAT IS A BLACK HOLE?
1. Black holes are objects whose gravity is so strong not even light can escape their pull
2. They can be created when massive stars collapse under their own weight
3. Large black holes can also be formed when smaller ones collide and merge
4. The biggest black holes lurk at the centre of many galaxies, including our own
5. Astronomers believe that when the universe was very young, black holes affected how galaxies formed
MATCH INFO
Fixture: Thailand v UAE, Tuesday, 4pm (UAE)
TV: Abu Dhabi Sports
How to watch Ireland v Pakistan in UAE
When: The one-off Test starts on Friday, May 11
What time: Each day’s play is scheduled to start at 2pm UAE time.
TV: The match will be broadcast on OSN Sports Cricket HD. Subscribers to the channel can also stream the action live on OSN Play.
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