Firstly, theIntergovernmental Declaration of Intent on Mutual Recognition of Certification Schemes for Hydrogen and Hydrogen Derivatives, which provides a crucial step towards capturing green premiums for low-carbon hydrogen. Preparing for a post-oil and gas eraThe MENA region holds 52% of global oil reserves, 43% of global gas reserves and accounts for one-third of global energy trade. Notably, competing with EU low-carbon hydrogen prices is demanding due to robust capital deployment and exploitation subsidies from the Hydrogen Bank. The grey for low-carbon play: early stagesIn the MENA region, capitalizing on the decarbonization of current hydrogen uses and industries involves leveraging low-carbon hydrogen, particularly in fertilizer, steel, and the chemicals industry. Our research indicates that widespread domestic demand support mechanisms are currently insufficient to significantly accelerate the adoption of low-carbon hydrogen in hard-to-abate sectors.
