The UAE Minister of Energy, Suhail Al Mazrouei, said that the UAE’s hydrogen strategy aspires to enter the market as an exporter in 2031.
Al-Mazrouei added, in an interview with “Energy Future on Arabia”, that we aim to produce 15 million tons of hydrogen in 2050, saying: “We will create 5 hydrogen oases by 2050.”
“We have established two hydrogen oases with a production capacity of 1.4 million tons, which will rise to 15 million tons by 2050 through five hydrogen oases,” Al Mazrouei said.
He explained that the UAE advanced 8 places between 2022 and 2023 in the speed of transition to green energies, to rank second in the world after Iceland.
And he indicated that the UAE aims to increase solar energy by 300% by 2030.
He continued, “We have invested $50 billion in Masdar in 70 countries, including the UAE, and we intend to invest another $50 billion in clean energy by 2030-2035.”
He pointed out that the UAE has accelerated its goal of increasing oil production capacity to reach 5 million tons per day from 2030 to 2027, given the global demand for oil and gas.
The Emirati Energy Minister, Suhail Al Mazrouei, stated that Saudi Arabia is a major player in the stability of global oil markets, pointing to the cohesion of OPEC and OPEC +, considering that the relationship between its countries is an exemplary relationship that events have proven to continue.
Al-Mazrouei praised Saudi Arabia’s leadership role and the initiative it took to extend the voluntary cut of one million barrels per day, which contributes to the balance of oil markets.
Al-Mazrouei announced that the invitation is open to crude-producing countries outside “OPEC +” to enter this alliance due to its importance, because the more members of the alliance, the better we have an appreciation of the market’s need.