Riyadh: Saudi Energy Minister Prince Abdulaziz bin Salman announced on Tuesday that the Kingdom is the largest producer of hydrogen and is prepared to begin exporting. The declaration was made during his speech at the Future Investment Initiative (FII), which commenced today and will run for three days. The minister emphasized that Saudi Arabia is actively working to diversify its economy and generate suitable job opportunities.
According to Kuwait News Agency, Prince Abdulaziz highlighted that since 2020, Saudi Arabia has produced 44 gigawatts of renewable energy. The Kingdom is committed to proactively identifying suitable sites for renewable energy generation, while also continuing its shift towards gas as part of a long-term strategy. The minister pointed out that Saudi Arabia has achieved significant progress in its energy transition in a few years, a feat that took OECD countries five decades to accomplish.
Moreover, Prince Abdulaziz reiterated the Kingdom’s dedication to maintaining its crude oil pro
duction capacity at 12.3 million barrels per day. This commitment is part of Saudi Arabia’s broader strategy to ensure energy security while transitioning towards more sustainable energy sources.