'Fuel of the future': Gulf states race to lead global green hydrogen market

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Wielding its massive investment capital, oil-rich Saudi Arabia constructs the world's largest green hydrogen plant at NEOM, the $500 billion futuristic megacity being built on the Red Sea.

Most hydrogen is produced from polluting fossil fuels, but green hydrogen is extracted from water using renewable energy such as wind, solar and hydropower. / Photo: AFP

Green hydrogen, which is the hydrogen created when renewable energy electrolyses water, appears to solve many problems: it is low-polluting and has widespread potential uses, which could make it lucrative and planet-saving at the same time. "Gulf states aim to lead the global hydrogen market," said Karim Elgendy, associate fellow at Britain's Chatham House think tank.

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