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

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'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.

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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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