2023-07-05 15:14:45
The CEO of Saudi Aramco, Amin Al-Nasser, expected, in an interview with Sky News Arabia, that the cost of the world’s transition to clean energy would exceed the levels of $ 270 trillion during the next twenty-seven years, stressing the need for the timetable for the energy transition to be logical and take into account the capabilities countries and their needs.
Consideration must be given to the needs and capabilities of countries. The Asian continent, for example, accounts for 40 percent of global energy consumption and has a population strength estimated at five billion people with a low average income (regarding 7-8 thousand dollars) compared to developed countries. Therefore, the capabilities of countries must be considered. developing,” as Nasser put it.
In response to a question by the Sky News Arabia delegate, Al-Nasser revealed, on the sidelines of the eighth edition of the OPEC International Conference held in Vienna, that Aramco plans to produce 11 million tons of blue hydrogen in the first stage.
Although the CEO of Saudi Aramco, Amin Al-Nasser, emphasized the importance of hydrogen in the future of energy, he ruled out that this would be in the short term due to the challenges it faces, primarily the high cost, infrastructure, and technology it needs in the end-use stage, that is, the technologies required to restore energy. Converting it upon arrival at the final destination from ammonia to hydrogen.
Ammonia is classified as low-emitting because the amount of carbon dioxide emitted during its production has previously been captured and used in refining and processing applications.
To clarify the high cost of hydrogen at the present time, Al-Nasser said, the cost of blue hydrogen is between $200-250 per barrel of oil equivalent, while the cost of green hydrogen is estimated at regarding $400 per barrel of oil equivalent.
The Saudi company aims to export blue hydrogen — made by converting natural gas and capturing the carbon dioxide emitted in the process — on a large scale, starting in 2030.
Aramco and SABIC Agro-Nutrients Company obtained the first independent certificates in the world recognizing the production of blue hydrogen and blue ammonia, in August 2022.
German company TUV Rheinland, a leader in systems testing, inspection and certification services in accordance with existing international standards, has awarded certifications to SABIC Agri-Nutrients in Jubail and to the wholly owned Saudi Aramco-owned Saudi Aramco, Jubail Aramco Refinery Company (SASREF).
In 2020, Saudi Aramco, in cooperation with SABIC, sent the first shipment of low-emission ammonia to Japan in a pilot project.
The following are the most important points that came in the meeting with the CEO of Saudi Aramco, Amin Al-Nasser:
The energy transition will cost the world up to $270 trillion by 2050 40 percent of global energy consumption is from Asia The energy transition timeline must be logical We plan to produce 11 million tons of blue hydrogen in the first phase Hydrogen will play a key role in the future, but not in the near term We need time for hydrogen to become affordable
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