RIYAD: The Saudi Green Initiative is a great opportunity to create new ways of running our industries, said Mohammed Alibrahim, Saudi Deputy Minister of Oil and Gas.

Speaking at a panel titled “Carbon-intensive industries: rapid, large-scale transition” held in Riyadh on Saturday, he said the circular carbon economy is at the heart of the initiative. .

He said that before the launch of the green initiative, the Kingdom had already embarked on an ambitious campaign to improve energy efficiency in its industrial sector and had achieved encouraging results. He said the Kingdom’s chemical, steel and cement industries have reduced their emissions by around 4 million tonnes per year.

The deputy minister said the new initiative offers several investment opportunities in recycling and waste management.

For example, he added, SABIC has already built a factory to capture 500,000 tons of carbon dioxide per year, the gas is then purified and used to produce more chemicals and for many other purposes in different industries. , said Alibrahim.

He said the Saudi Green Initiative and the Carbon Economy Circle allow us to use carbon as a resource rather than seeing it as a problem.

“We aim to produce green hydrogen and blue hydrogen to convert it to blue ammonia, we already shipped ammonia to Japan last year and we have a plan to develop that.”

“We don’t want to focus on a certain type of technology.

Paddy Padmanathan, CEO of ACWA Power, said: “The way is ultimately green hydrogen, the real need is energy and even that will require electricity, the basic ingredient is already available.”

He called on all stakeholders to create a supportive ecosystem.

“We can really transform industrial consumption when we bring the costs of hydrogen down to less than $ 2 a kilo and it is achievable. “

Jasper Graf von Hardenberg, co-founder and CEO of the Daystar Group, USA, said: “Saudi Arabia has a greater responsibility, it can become the world’s largest producer of green hydrogen.

Morten Dyrholm, GSVP for MarCom, Sustainability and Public Affairs, Vestas Wind Systems A / S, Denmark, said: “With this plan Saudi Arabia is at the center and we want to be part of this journey.

“As businesses, we have to take responsibility with goals of zero net emissions through production. “

“Now, with all the policies coming to Saudi Arabia, there are signals that the Kingdom is on the verge of becoming more sustainable.”

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