MENA Region Energy Transition: UAE and Saudi Arabia Lead in Renewables, Hydrogen, and CCS Investments

The Middle East and North Africa (MENA) region is strategically balancing its oil and gas dominance with the energy transition. The UAE and Saudi Arabia are leading this shift, with ADNOC launching an $80 billion investment vehicle (XRG) for gas, petrochemical, and low-carbon projects. Saudi Arabia aims to generate 50% of its domestic power from renewables by 2030, focusing on hydrogen and carbon capture and storage (CCS). Oman seeks to become a green hydrogen export hub by 2030, leveraging its solar and wind potential. In contrast, Kuwait and Qatar focus on maximizing oil and gas revenues, with QatarEnergy expanding LNG export capacity. The MENA region's blend of traditional energy resources and renewable potential positions it as a key global energy player.