INSEAD Day 4 - 728x90

Borouge okays $656m dividend

The company said dividend reflects its resilience

DEWA posts record H1 profit

Revenue reaches record $4.04 billion.

Tabreed H1 revenue $308m

Blurb: Profit reaches $52 million in H1

ADNOC L&S to expand fleet

It will acquire 11 carriers for $1.3bn.

Empower profit climbs 16%

Dubai district cooling demand lifts earnings

Japan sees Middle East as vital in creating hydrogen-based society

  • 'The large-scale and inexpensive hydrogen supply is indispensable'
  • Hydrogen and ammonia are attracting attention as new energy sources

Kajiyama Hiroshi, the economy, trade and Industry minister of Japan, said that Middle Eastern countries are important partners in creating a hydrogen-based society.

“The large-scale and inexpensive hydrogen supply is indispensable,” Kajiyama said at a press conference. “To achieve our goal, it is important to utilize not only domestic, but also overseas renewable energy resources and hydrogen produced from fossil fuels.”

In April, Japan and the UAE agreed to work on hydrogen cooperation and exchange information on hydrogen supply chain construction, the minister said.

He added: “We are also discussing [cooperation on hydrogen] with other Middle Eastern countries, and we would like to continue to cooperate to realize a hydrogen-based society.”

Hydrogen and ammonia are attracting attention as new energy sources. According to Kajiyama, “[Technological development of this source] must be carried out in three stages: manufacturing, transportation, and domestic utilization such as power generation and utilization as a power source for automobiles.”

“Japan started developing hydrogen ahead of the rest of the world, but other countries are beginning to follow suit,” the minister said. “Under these circumstances, we would like to cooperate closely with potential countries such as Saudi Arabia on how hydrogen production will be carried out.”