Indeed, low-carbon hydrogen and its derivatives will play a critical role in meeting the sustainable energy needs of hard-to-abate industries. The Middle East’s bet on low-carbon hydrogen reflects a broader commitment to align economic growth with environmental priorities in a region traditionally known for hydrocarbon resources (e.g. crude oil, refined products, natural gas, LNG, etc). As the world searches for sustainable energy solutions, the Middle East's focus on low-carbon hydrogen is positioning it to lead the global transition.

Depending on how fast and ambitious the world decarbonizes, BCG analysis shows that low-carbon hydrogen demand globally could reach approximately 350 million tons per annum (Mtpa) by 2050. Further, the analysis also highlights that this burgeoning market, which could represent between $600 billion and up to $1.1 trillion by 2050, presents a unique opportunity for the region to pivot from traditional energy sources to greener alternatives, diversify its economy, and help other regions decarbonize.

The direction of play by industry players and governments in the coming decade is extremely vital. The Middle East has already demonstrated high ambitions to undertake large-scale developments for low-carbon hydrogen. The region is set to become one of the major exporting hubs thanks to its natural resources, strategic location, and existing infrastructure. 

As the region embarks on this journey, it stands at a critical intersection where environmental responsibility meets industrial innovation. This strategic approach ensures that with resolute determination, today's efforts will lay the foundation for a cleaner and more resilient future. The region's pursuit of low-carbon hydrogen is not just a response to current energy needs but a commitment to the well-being of future generations, striving to create a legacy in the global narrative of clean energy.