Japan's Marubeni, Saudi's PIF weighing clean hydrogen production in kingdom

World
02-03-2023 | 09:01
High views
Share
LBCI
Share
LBCI
Whatsapp
facebook
Twitter
Messenger
telegram
telegram
print
Japan's Marubeni, Saudi's PIF weighing clean hydrogen production in kingdom
Whatsapp
facebook
Twitter
Messenger
telegram
telegram
print
2min
Japan's Marubeni, Saudi's PIF weighing clean hydrogen production in kingdom

Marubeni Corp (8002.T) has agreed to study clean hydrogen production in Saudi Arabia together with the kingdom's sovereign wealth fund, the Japanese trading house said on Thursday, as Riyadh is exploring cleaner energy to cut its reliance on oil.

Saudi Arabia, a leading oil-producing nation and a key player in the Organization of the Petroleum Exporting Countries, is looking to add other types of energy sources, including cleaner fuels and renewables, to diversify its economy.
 
Marubeni and the Saudi sovereign Public Investment Fund (PIF), central to the kingdom's goal to cut reliance on oil, agreed to conduct a feasibility study for producing clean hydrogen for both domestic and international markets, the Japanese firm said.

PIF, which manages more than $600 billion in assets, plans to invest more than $10 billion in eligible green projects by 2026, including in renewable energy, clean transport and sustainable water management, it said last year.
 
Saudi Arabia, which plans to reach net zero emission by 2060, also by developing carbon capture and storage hubs, may bring the target forward if the technology allows.
 

Japan

Marubeni

Saudi Arabia

Public

Investment

Fund

PIF

Weighing

Clean

Energy

Hydrogen

Production

Kingdom

Subscribe to our VOD
SUBSCRIBE
Our visitors readings
d-none hideMe
LBCI
Israel-Gaza War Updates
2025-09-14

Spain's PM praises pro-Palestinian protesters as Vuelta race nears end

LBCI
News Bulletin Reports
2025-10-11

Lebanon reviews $16.5 billion dispute as depositors await clarity on their funds

LBCI
Lebanon News
05:37

Macron praises Lebanon's efforts to limit weapons to state forces, announces two support conferences

LBCI
Lebanon News
05:30

Labor Minister backs Health Ministry’s decision on Tannourine water, aiming to protect public health

Videos
d-none hideMe
LBCI
Lebanon News
2025-10-04

Meet Miss Lebanon 2025 contestants: Video

LBCI
Lebanon News
2025-10-03

Series of Israeli airstrikes spark massive fire in southern Lebanon

LBCI
Lebanon News
2025-09-07

Lunar eclipse captivates Lebanon: watch the stunning video

Most read
d-none hideMe
24 hours
7 days
Month
LBCI
Lebanon News
14:29

Tests confirm contamination in Tannourine water after Health Ministry suspends company operations

LBCI
Lebanon News
07:37

Lebanese President says 'necessary to negotiate' with Israel

LBCI
Lebanon News
08:59

Trump praises Lebanon’s new president during Knesset address

LBCI
News Bulletin Reports
13:30

Gaza peace summit leaves Lebanon on the sidelines: Can Beirut balance pragmatism and security?

LBCI
Lebanon News
03:57

Lebanese Health Ministry clarifies suspension of Tannourine water sales

LBCI
Lebanon News
11:40

Lindsey Graham: Lebanon must disarm Hezbollah to secure lasting regional peace

LBCI
Middle East News
07:35

Knesset protest briefly interrupts Trump speech

LBCI
Israel-Gaza War Updates
12:41

US, Egypt, Qatar, Turkey sign Gaza declaration

Download now the LBCI mobile app
To see the latest news, the latest daily programs in Lebanon and the world
Google Play
App Store
Download now the LBCI mobile app
We use
cookies
We use cookies to make
your experience on this
website better.
Accept
Learn More