- Farah - News Editor
- Read Time: 2 mins
The Saudi plan to dominate hydrogen production is part of its attempt to diversify its oil and gas reliant economy and create jobs. With about 60 per cent, or $US149 billion ($2.09 billion), of the Saudi budget in 2021 derived from oil, the kingdom needs to diversify income sources as world demand for fossil fuels shifts. If a new plant in NEOM meets its daily production target of 650 tonnes of environmentally friendly “green” hydrogen, it will become the world’s largest. Large-scale construction of the plant has not yet started at the site of the planned city of NEOM on the Red Sea coast. Production would begin in 2026, an official said.










