Within the Middle East region, governments have made progressive strides to support the transition toward a greener future in hard-to-decarbonize sectors.
Recently, the UAE has joined forces with the Netherlands to boost its research and efforts on hydrogen energy.
Such partnerships contribute to catalyzing the transition towards hydrogen energy and support the two countries’ orientation in formulating projects and initiatives to support the Paris Agreement on Climate Change.
Germany and Saudi announced a strategic alliance on green hydrogen development to collaborate on the generation, processing, use, and transportation of clean hydrogen for the benefit of both countries.
This partnership will help Saudi bolster it as a global producer of green hydrogen.
In this context, management consulting firm Arthur D. Little (ADL) revealed in its new report that the next decade will witness some of the most exciting and transformative years in the energy and resources industry’s history.
In the new report titled Disruption Is Now, ADL drew attention to key trends that are currently shaping the energy and resources industry as it transitions with great ambitions toward net-zero.
Data shows that decarbonization will be the most important overarching trend for all sectors and the world in general.
The study suggests that energy grid firms must create future-proof energy infrastructures that can accommodate technologies such as intermittent and decentralized generation.
The analysis points out that digitization or the need to digitize operations to enhance efficiency, thereby reducing costs, increasing revenue stream by diversifying into new products and services as well as improving customer experience is increasingly important for energy players and fundamental to their transformation.
It stated that evidently, the energy and resources sector will need to go through a period of unprecedented change if they are to be fit for purpose in an increasingly decarbonized, decentralized, and digitalized world.
According to the report, the way in which the energy and resources sectors position themselves today in preparation for transformation will determine their sustainability and could make or break their competitive advantage over the next decade.
Furthermore, the report touched upon the Hydrogen economy that is touted to become a $700 billion economy by 2050.
