We have a proposal to create a working group on hydrogen energy.
Novak said
Hydrogen has gained traction as the future green fuel of choice, increasingly touted as a way to decarbonise emissions-intensive heavy industry and transportation.
READ the latest news shaping the hydrogen market at Hydrogen Central
Oil and gas rich Russia has been slow in developing production of hydrogen gas, a fuel that emits only water vapor and warm air when burned, rather than carbon dioxide.
Saudi Arabia, which plans to diversify the economy, is considering several large-scale project to produce hydrogen.
Novak said that both Russia and Saudi Arabia have great potential to develop traditional and renewable sources of energy.
In the last few months, Saudi Arabia has been making major announcements regarding a high level of involvement in the hydrogen economy.
Saudi Arabia, Germany sign landmark MoU to produce hydrogen
This is Saudi Arabia Bold Plan to Rule the $700 Billion Hydrogen Market
As governments and industries seek less-polluting alternatives to hydrocarbons, Saudi Arabia, the world’s biggest crude exporter doesn’t want to cede the hydrogen business to China, Europe or Australia and lose a potentially massive source of income.
The Kingdom is building a $5 billion plant powered entirely by sun and wind that will be among the world’s biggest green hydrogen makers when it opens in the planned megacity of Neom in 2025.
Russia offers cooperation with Saudi Arabia on hydrogen production -Novak, May 25 2021