NEOM Green Hydrogen Co (NGHC) chief confident to commence operations in 2026

 

NEOM Green Hydrogen Co (NGHC) chief confident to commence operations in 2026

NEOM Green Hydrogen Co (NGHC) remains confident that its expansive complex will commence operations as scheduled in 2026. NGHC CEO David Edmondson assured that the company does not foresee any supply chain disruptions affecting the diverse components crucial to the project.

Originally unveiled in 2020 through a collaboration between NGHC's stakeholders - NEOM (33.4%), Saudi renewable developer ACWA Power (33.3%), and industrial gases distributor Air Products (33.3%) - this endeavor is slated to establish an immense facility engineered to produce green hydrogen at an unprecedented scale. The ultimate aim is to globally export this green hydrogen in the form of green ammonia.

NEOM's groundbreaking Green Hydrogen complex has a broader scope, as the green hydrogen and ammonia it generates will align with the European Union's stringent criteria for renewable fuels. Edmondson highlighted, "While it's a formidable benchmark we've set for ourselves, it also means that we possess the capacity to cater to a multitude of markets worldwide."

The CEO elaborated, "Our capacity for investment has expanded compared to previous circumstances." Edmondson noted the potential exploration of power-purchase agreements (PPAs) as supplementary enhancements to their existing strategy.

Consequently, the choice of import markets to which NEOM directs its production may increasingly hinge on economic viability rather than solely on policy considerations.

Edmondson concluded, "While it's conceivable that certain Asian markets might present more straightforward sales prospects, the balance between European premium demand and that of South Korea or Japan remains a dynamic variable."

Source: https://www.oilandgasmiddleeast.com/