The kingdom is seeking to become a global leader in green hydrogen production, aiming to produce 1 million tonnes of the fuel annually by 2030. Saudi Arabia’s investment minister, Yasir Al-Rumayyan, stated that Italy is a key partner in this endeavor, highlighting the country’s expertise in renewable energy and its commitment to green technologies. Al-Rumayyan emphasized that Italy’s role in the energy transition is crucial for Saudi Arabia’s ambitions to become a major player in the green hydrogen market. The Saudi Arabian government has been actively pursuing a strategy to diversify its economy away from its reliance on oil and gas.

Al-Falih, the CEO of Saudi Aramco, the world’s largest oil producer, is known for his bold and ambitious vision. He has previously made similar statements about investing in green energy and infrastructure. The company has already invested billions of dollars in renewable energy projects, including solar and wind farms.