Japan’s Marubeni to develop hydrogen project in Saudi Arabia

Japan’s Marubeni Corporation has signed a memorandum of understanding with the Public Investment Fund (PFI) of Saudi Arabia to set out a framework for the development of a clean hydrogen project in the Middle Eastern nation, it said on March 2.

Under the framework of this MoU, Marubeni and PIF will initially conduct a feasibility study for producing clean hydrogen in Saudi Arabia, with the aim to supply clean hydrogen to both domestic and international markets.

Marubeni has ownership interests in four projects in Saudi Arabia. The company said it will proceed with this project together with PIF utilising the knowledge it has acquired through its business development and operations in Saudi Arabia.