KUWAIT CITY, Oct 1: MEED magazine placed Kuwait last on its list of green hydrogen projects in the Middle East and North Africa, where the value of these projects was only $15 million, reports Al-Anba daily. Egypt ranked first with projects worth $63.8 billion, followed by Oman and Morocco in the second and third places with projects worth $48.9 billion and $16.850 billion, respectively, followed by Saudi Arabia and the UAE in the fourth and fifth places with projects worth $10.5 billion and $10.28 billion, respectively. However, no ranking of Qatar is known.

MEED indicated that the available data shows that there are approximately 50 known and planned green hydrogen and ammonia projects across the Middle East and North Africa region, which require investments of at least $150 billion. Experts have told MEED that commercial banks are interested in hedging the risks of financing hydrogen projects and want to feel comfortable with the risks they are exposed to.

Speaking on the sidelines of the ongoing WETEX and Dubai Solar Show in Dubai, experts noted that green hydrogen projects require clear regulations, including a global consensus on certifi- cation, in addition to the rapid expansion of electrolyzer production to make them bankable. “The market is now in recovery and we need to get enough projects while managing risks, although how to scale and implement these projects will be discussed,” said Manuel Cohn, vice president of global hydrogen sales and new energy business at Siemens Energy. A single project such as the $6.5 billion NEOM Green Hydrogen and Ammonia Facility could “eat up” current production capacity with its two gigawatts of electrolyzer requirement.