By Staff Writer
Saudi Arabia Refineries Company (SARCO) said plans to develop a green hydrogen (ammonia) project in Saudi Arabia with UAE-based Go Energy are not moving ahead.
The non-binding memorandum of understanding (MoU) signed with UAE-based Go Energy in October 2025 has expired without a binding agreement, the company said in a statement to the Saudi Stock Exchange on Monday.
The MoU’s expiry will not create any financial obligations or affect SARCO’s financial position or business results, the statement added.
The number of announced and planned hydrogen production projects in the Arab countries stood at 133 by the end of March, according to the Kuwait-based Organisation of Arab Petroleum Exporting Countries (OAPEC).
The current number of hydrogen projects in the Arab world is nearly four times the number announced in 2021, it said.
(Editing by Anoop Menon)
(anoop.menon@lseg.com)
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