Saudi Arabia will invest $266 bln in clean energy: Minister

Saudi Arabia will invest one trillion riyals to generate “cleaner energy” and add transport lines and distribution networks, Energy Minister Prince Abdulaziz bin Salman said on Monday.

He added that the eventual goal is to export energy to the world and produce clean hydrogen.

“We are determined to be the leading exporter of hydrogen, as well as to provide clean hydrogen for local uses in heavy industries to produce green products such as green steel, green aluminium, fertilizers and others at competitive prices,” he said.

The minister also stressed the ongoing work to significantly increase oil and gas supplies and double the main gas network.

And highlighted the acceleration of the work of liquids-to-chemicals conversion facilities to increase the raw materials for petrochemicals.