S&P Global Platts, a commodities intelligence platform, unveiled the Middle East's first suite of prices to track the daily cost of hydrogen production.
One of the lightest and most abundant elements in the universe, hydrogen is being prioritised for development in the Middle East as a viable alternative fuel.
The element, which can be produced with carbon and non-carbon forms of energy, can be used in heavy transport and to decarbonise the power sector.
The new suite of prices will cover hydrogen produced through proton exchange membrane electrolysis, alkaline electrolysis and steam methane reforming with carbon capture and sequestration.
Platts will cover the production of hydrogen in Saudi Arabia, Oman, Qatar and the UAE.
“Huge amounts of capital are being invested in hydrogen production in the Middle East and the projects under development will put the region at the centre of the emerging hydrogen economy,” said Alan Hayes, head of energy transition pricing at S&P Global Platts.
“The Middle East has the potential to become a global supply hub for hydrogen in much the same way as it is now for crude oil.”
Including the region in Platts' global coverage of hydrogen production will help producers and consumers to track the cost of producing the fuel.
More importantly, it will also "compare the costs of producing with other hydrogen production hubs around the world”, Mr Hayes said.
Hydrogen is on track to become a multibillion-dollar industry in the Middle East, with total announced investments set to hit $44 billion, according to Platts' estimates.
About $35bn of the commitments will be in projects that will become operational by 2030.
The UAE committed to achieving net zero emissions by the middle of the century, as part of its nationally determined contributions tabled before the Cop26 climate summit held in Glasgow, Scotland, earlier this month.
The country will also host Cop28 in 2023 as it aims to take the lead in the region's energy transition.
In line with its net zero initiatives, the UAE plans to invest $160bn over the next three decades to hasten renewable energy development. Hydrogen has been earmarked for further development in the UAE and Saudi Arabia as a viable clean fuel.
Under the new suite of prices, the production of hydrogen through steam methane reforming in the region is cost-competitive.
The product, more commonly known as blue hydrogen, is produced when natural gas is heated with steam to produce carbon monoxide and hydrogen. Associated carbon dioxide is captured and stored to make the process low carbon.
The current prices for blue hydrogen in the UAE and Saudi Arabia are $5.60 a kilogram and $5.50 a kilogram, respectively, according to Platts.
Prices for the commodity in key global producers in Western Australia and Europe, specifically the Netherlands, average $5.95 a kilogram and 5.70 a kilogram, respectively.
Gulf energy companies such as Adnoc and Saudi Aramco have announced plans to develop blue hydrogen.
Adnoc is building a blue ammonia plant through its Fertiglobe joint venture with OCI at its Ruwais chemicals centre in Abu Dhabi. The plant will have a production capacity of 1,000 kilotonnes a year when completed.
Ammonia is a carrier fuel and the easiest way to transport hydrogen.
Hydrogen produced from electrolysis, which involves splitting water molecules into hydrogen and oxygen, is cheaper in Australia than in the UAE, Saudi Arabia or the US Gulf Coast, according to Platts.
Hydrogen produced through alkaline and PEM electrolysis is twice as expensive to produce in the UAE compared with Western Australia, where it costs $2.11 and $3.39 per kilogram, respectively.
“These latest costs of production assessments indicate that different production routes may favour different regions when it comes to establishing global hydrogen trade routes,” Platts said.
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Company profile: buybackbazaar.com
Name: buybackbazaar.com
Started: January 2018
Founder(s): Pishu Ganglani and Ricky Husaini
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Sector: FinTech, micro finance
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- Promises of high, fixed or 'guaranteed' returns.
- Unregulated structured products or complex investments often used to bypass traditional safeguards.
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Name: Dr Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
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What the law says
Micro-retirement is not a recognised concept or employment status under Federal Decree Law No. 33 of 2021 on the Regulation of Labour Relations (as amended) (UAE Labour Law). As such, it reflects a voluntary work-life balance practice, rather than a recognised legal employment category, according to Dilini Loku, senior associate for law firm Gateley Middle East.
“Some companies may offer formal sabbatical policies or career break programmes; however, beyond such arrangements, there is no automatic right or statutory entitlement to extended breaks,” she explains.
“Any leave taken beyond statutory entitlements, such as annual leave, is typically regarded as unpaid leave in accordance with Article 33 of the UAE Labour Law. While employees may legally take unpaid leave, such requests are subject to the employer’s discretion and require approval.”
If an employee resigns to pursue micro-retirement, the employment contract is terminated, and the employer is under no legal obligation to rehire the employee in the future unless specific contractual agreements are in place (such as return-to-work arrangements), which are generally uncommon, Ms Loku adds.
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Paatal Lok season two
Directors: Avinash Arun, Prosit Roy
Stars: Jaideep Ahlawat, Ishwak Singh, Lc Sekhose, Merenla Imsong
Rating: 4.5/5
UK's plans to cut net migration
Under the UK government’s proposals, migrants will have to spend 10 years in the UK before being able to apply for citizenship.
Skilled worker visas will require a university degree, and there will be tighter restrictions on recruitment for jobs with skills shortages.
But what are described as "high-contributing" individuals such as doctors and nurses could be fast-tracked through the system.
Language requirements will be increased for all immigration routes to ensure a higher level of English.
Rules will also be laid out for adult dependants, meaning they will have to demonstrate a basic understanding of the language.
The plans also call for stricter tests for colleges and universities offering places to foreign students and a reduction in the time graduates can remain in the UK after their studies from two years to 18 months.
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BULKWHIZ PROFILE
Date started: February 2017
Founders: Amira Rashad (CEO), Yusuf Saber (CTO), Mahmoud Sayedahmed (adviser), Reda Bouraoui (adviser)
Based: Dubai, UAE
Sector: E-commerce
Size: 50 employees
Funding: approximately $6m
Investors: Beco Capital, Enabling Future and Wain in the UAE; China's MSA Capital; 500 Startups; Faith Capital and Savour Ventures in Kuwait
Sui Dhaaga: Made in India
Director: Sharat Katariya
Starring: Varun Dhawan, Anushka Sharma, Raghubir Yadav
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The Bio
Name: Lynn Davison
Profession: History teacher at Al Yasmina Academy, Abu Dhabi
Children: She has one son, Casey, 28
Hometown: Pontefract, West Yorkshire in the UK
Favourite book: The Alchemist by Paulo Coelho
Favourite Author: CJ Sansom
Favourite holiday destination: Bali
Favourite food: A Sunday roast
Learn more about Qasr Al Hosn
In 2013, The National's History Project went beyond the walls to see what life was like living in Abu Dhabi's fabled fort:
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Pakistan 106-8 (20 ovs)
Iftikhar 45, Richardson 3-18
Australia 109-0 (11.5 ovs)
Warner 48 no, Finch 52 no
Australia win series 2-0
War 2
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The specs
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Goalkeepers: Masaaki Higashiguchi, Shuichi Gonda, Daniel Schmidt
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Midfielders: Toshihiro Aoyama, Genki Haraguchi, Gaku Shibasaki, Wataru Endo, Junya Ito, Shoya Nakajima, Takumi Minamino, Hidemasa Morita, Ritsu Doan
Forwards: Yuya Osako, Takuma Asano, Koya Kitagawa
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Liverpool 2 (Van Dijk 18', 24')
Brighton 1 (Dunk 79')
Red card: Alisson (Liverpool)
Gender pay parity on track in the UAE
The UAE has a good record on gender pay parity, according to Mercer's Total Remuneration Study.
"In some of the lower levels of jobs women tend to be paid more than men, primarily because men are employed in blue collar jobs and women tend to be employed in white collar jobs which pay better," said Ted Raffoul, career products leader, Mena at Mercer. "I am yet to see a company in the UAE – particularly when you are looking at a blue chip multinationals or some of the bigger local companies – that actively discriminates when it comes to gender on pay."
Mr Raffoul said most gender issues are actually due to the cultural class, as the population is dominated by Asian and Arab cultures where men are generally expected to work and earn whereas women are meant to start a family.
"For that reason, we see a different gender gap. There are less women in senior roles because women tend to focus less on this but that’s not due to any companies having a policy penalising women for any reasons – it’s a cultural thing," he said.
As a result, Mr Raffoul said many companies in the UAE are coming up with benefit package programmes to help working mothers and the career development of women in general.
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New schools in Dubai
