SAUDI ARAMCO’S USD 4 BILLION HYDROGEN PLANT IN SAUDI ARABIA: THE HYDROGEN STRATEGY OF SAUDI ARAMCO

In August 2020, Saudi Aramco announced plans to build a $4 billion hydrogen plant in Saudi Arabia. The facility, which is expected to be operational by 2025, will produce hydrogen through steam methane reforming and will have a capacity of 25,000 tons per year. Furthermore, in the same year in the month of July, Saudi Aramco formed a joint venture with Air Products to develop a hydrogen supply chain in Saudi Arabia. The venture aims to create a network of hydrogen refueling stations and support the growth of hydrogen-powered transportation in the country. These are in line with the company’s Hydrogen strategy where, in February 2020, Saudi Aramco launched its “Hydrogen Strategy” outlining its vision for the role of hydrogen in the kingdom’s energy mix. The strategy emphasizes the importance of developing a domestic hydrogen industry and leveraging the country’s abundant natural gas reserves to produce low-carbon hydrogen.

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“The Jazan Economic City: Mega Plans of Saudi Aramco for Hydrogen Production”

Saudi Aramco is developing the Jazan Economic City project, which includes a USD 2.5 billion hydrogen production complex. The complex will use gasification technology to produce syngas, which will then be converted into hydrogen via steam methane reforming. The project is expected to be completed by 2025. Furthermore, Saudi Aramco is participating in the development of the Hydrogen Valley project, a USD 5 billion initiative to establish a hydrogen-based economy in Saudi Arabia. The project aims to produce 5 million metric tons of hydrogen per year by 2030, which will be used in various industries, including energy, transportation, and manufacturing.

Saudi Aramco’s Hydrogen Ambition: A Quest for Global Dominance Through M&A

q Saudi Aramco acquired a 60% stake in Marafiq, a Saudi utility company, in 2020. Marafiq is planning to build a $1.5 billion hydrogen production facility in Jeddah, which will use gasification technology to produce hydrogen. The facility is expected to start operation in 2023.

q Saudi Aramco acquired a 70% stake in GPIC, a petrochemical company based in Yanbu, in 2020. GPIC is planning to build a $1.5 billion hydrogen production facility in Yanbu, which will use steam methane reforming technology to produce hydrogen. The facility is expected to start operation in 2023.

q Saudi Aramco established the Red Sea Methanol Company in 2020, which will produce methanol from hydrogen and CO2. The company aims to produce 1 million metric tons of methanol per year, which will be used in the production of fuels, plastics, and other chemical products.

q Saudi Aramco has partnered with several companies to advance its hydrogen ambitions, including Air Liquide, Linde, and Siemens Gamesa. These partnerships aim to develop new technologies, expand existing facilities, and explore new business opportunities in the hydrogen market.

FUTURE PROJECTIONS

The world’s largest oil and gas company, Saudi Aramco, is making significant investments in the hydrogen industry. The company has announced plans to invest in hydrogen production, storage, and transportation, as well as research and development in the field. Saudi Aramco has been investing heavily in the hydrogen industry since 2020. In 2021, the company announced plans to invest $5 billion in the development of hydrogen production, storage, and transportation technologies. The company also announced plans to invest $1 billion in research and development in the field. The company has established a research center in Riyadh to develop new technologies for the production, storage, and transportation of hydrogen. The company is also investing in the development of hydrogen fuel cells and hydrogen-powered engines. The company has also announced plans to build a hydrogen production plant in Saudi Arabia. The plant will be capable of producing up to 1 million tons of hydrogen per year. The plant will be powered by renewable energy sources, such as solar and wind. Furthermore, the company is also investing in the development of hydrogen fuel stations. The company is working with local governments to develop hydrogen fuel stations in Saudi Arabia. The company is also investing in the development of hydrogen fuel cell buses.

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About Saudi Aramco

Saudi Aramco is the world’s largest oil producer and the world’s most profitable company. Established in 1933, the company is primarily state-owned and is based in Dhahran, Saudi Arabia. It is the sole owner of North America’s largest single-site crude oil refinery at Port Arthur, Texas. Aramco is a major player in the global oil industry and is a major source of wealth for the Saudi Arabian government. The company’s board of directors is headed by Chairman Yasir Othman Al-Rumayyan and Amin H. Nasser is the lead executive as president and chief executive officer (CEO). Saudi Aramco pays a hefty tax rate of 50% to the Saudi Arabian government. Aramco’s biggest customers are in Asia, where it sends over 70 percent of its exports. The company is the biggest supplier to six major markets in the continent – China, India, Japan, South Korea, and the Philippines. In Europe, it imports around 860,000 barrels of Armco’s crude every day. In the US, Aramco also owns the Motiva refinery in Port Arthur, Texas, the largest oil refinery in North America with a capacity of 607,000 barrels per day. In December last year, the company successfully listed on the Saudi Stock Exchange (Tadawul). The energy giant listed 1.5 percent, or three billion, of the company’s shares on the Tadawul, raising $29.4 billion. Every day Aramco sells more than 10 million barrels of oil and produces one in every eight barrels produced globally.