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Clean energy? Saudi, UAE hit out at ‘lack of incentives’ for transition
Saudi Arabia and the United Arab Emirates (UAE) warned today about the "lack of incentives" and the "challenges" facing the production and marketing of clean energy, especially green hydrogen.
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Mundo Energia
“There is a lack of incentives,” the Saudi minister said, defending his country’s “efforts” in the transition to clean energy.
In addition to the lack of “necessary technologies” to accelerate the production process, Bin Abdelaziz also highlighted the low demand for clean energy products, namely green hydrogen, due to their high prices compared to fossil fuels, as well as the “challenges” of transporting these products.
“Green hydrogen, without incentives, will be difficult,” he insisted, but said that Riyadh, the world’s largest exporter of crude oil, will move forward with its plans to produce renewable and clean energy.
He added: “In Saudi Arabia, we are doing everything we can to supply the world with all kinds of energy.”
Al Mazrouei aligned himself with his Saudi counterpart’s thinking, stressing that the “position of the United Arab Emirates is not very different from that of the kingdom” of Saudi Arabia.
“The demand only comes from Europe, there is no demand in our countries (...) the price is responsible for that,” Al Mazrouei said, referring to the high cost of producing and selling hydrogen compared to fossil fuels.
The minister implicitly criticised the proposals of “some” to impose taxes on the sale of fossil fuels to encourage the production and sale of renewable energy.
“Is it possible to punish consumers by raising the prices of other energy sources in favour of clean energy?” he asked, stressing the importance of “using technology to reduce prices so that they are acceptable and accessible to all.”
The Emirati minister reiterated that his country “will continue with its strategies” to promote the production of clean and renewable energy.
“Our territory is rich in energy, be it traditional or green (...) we will continue to work and we will always be a reliable supplier to the world,” he said.
Read Also: Emirati company closes loan with South Sudan government (Portuguese version)
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