Negotiations are underway for additional offtake at the NEOM green hydrogen megaproject in Saudi Arabia which would exceed the production of the facility, according to CEO Seifi Ghasemi.
Speaking on an earnings call following the release of Q4 and full year results (click here), Ghasemi said construction is about 60% complete, and it is on track to launch the facility at the end of 2026.
Target production is 600 tonnes of hydrogen daily and analysts heard how the company plans to ‘fully load’ from 2027.
Striking an upbeat tone, in contrast with much of the ongoing challenges surrounding hydrogen financing, supply and demand, the CEO said the clean hydrogen market is expected to be worth more than $600bn by 2030 – eventually exceeding $1trn by 2050 – and its currently approved clean hydrogen projects account for less than 1% of future market expectations.
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