A coalition of Gulf sovereign wealth funds has announced a combined $15 billion commitment to develop green hydrogen production and export infrastructure, positioning the Middle East as a major hub for the emerging clean fuel economy.
The investment, coordinated through a newly established Gulf Green Energy Alliance, will fund the construction of electrolysis plants powered by solar energy, hydrogen storage facilities, and dedicated export terminals capable of serving European and Asian markets.
"The Gulf states that built their economies on hydrocarbons are now building the infrastructure of the post-carbon energy system," said the Alliance's founding chairman. "Green hydrogen represents a natural evolution of our energy expertise and geographic advantages."
The projects are expected to produce over 2.5 million tonnes of green hydrogen annually by 2030, with primary export markets identified as Germany, Japan, South Korea, and India.
The initiative has been supported by memoranda of understanding with several European utilities and Asian industrial conglomerates seeking to secure long-term clean hydrogen supply agreements.