The biggest oil-exporting region in the world, the Middle East, has set its sights on becoming a major clean energy exporter of green hydrogen. The largest oil producers in the Arab Gulf have jumped on the hydrogen bandwagon — especially its so-called green variety produced from water electrolysis using electricity from solar or wind — as it gains momentum with governments and the world’s largest international oil companies. Hydrogen is expected to play a prominent role in lowering carbon emissions from energy-intensive industries. And the Middle East doesn’t want to miss out on this opportunity. On the one hand, it wants to show the world it can export clean energy—not only crude oil—as the global energy transition accelerates. On the other hand, the oil-dependent economies of some of OPEC’s largest producers are determined to diversify into green energy exports and away from oil. This past week, two announcements of […]