Hydrogen could be the UAE's “fifth wave” of cleaner energy as the Middle East and North Africa emerge as key players in trade of the “future fuel”, a summit has heard.
The UAE and Netherlands were leading talks on Monday on how to massively scale up trade in the infant hydrogen industry.
Hydrogen is tipped to replace fossil fuels in sectors such as aviation, shipping and heavy industry but is little used today, partly because it is expensive.
However, sector bosses at a hydrogen summit in Rotterdam, the Netherlands, were told cross-border trade could wipe $3.7 trillion off costs by 2050.
Solar power-rich countries are in line to benefit, with Morocco on Monday positioning itself as a key seller to Europe using new and existing pipelines.
Abu Dhabi clean energy company Masdar told the summit it is “fully committed” to the growth of the hydrogen industry.
Florian Merz, a Masdar associate director of business development, described green hydrogen as the “fifth wave of the energy transition”.
“We started 50 years ago with LNG, then went to gas import by pipeline, then to renewables about 15 years ago, to nuclear, and now to green hydrogen,” he said.
Morocco mission
A 20-country hydrogen trade group co-chaired by the Netherlands and the UAE held talks in Rotterdam on Monday.
Morocco recently joined the club and is urging potential customers in Europe to put economic muscle such as subsidies behind the trade route.
It touts the fact they are already connected by the Maghreb-Europe gas pipeline and a power cable link to Spain.
“There can be multiple corridors being developed – at least on PowerPoint slides,” said Leila Benali, Morocco’s Minister for Energy Transition and Sustainable Development.
“But the ones that are actually realistic are the ones where we have existing connectivity today,” she told the World Hydrogen Summit.
There is interest from Europe in a “southern corridor” connecting North Africa to Italy, Germany and Austria.
Austria, a second new member of the UAE and Dutch-led club, is keen as a landlocked country to identify trade routes.
“We will need imports from trusted partners and so imports of green hydrogen play a crucial role in our way to net zero,” said Austria’s Minister for Climate Action, Leonore Gewessler.
“We are working a lot on the southern hydrogen corridor to import from North Africa to Italy, Germany and Austria.”
Although abundant in nature, hydrogen normally has to be split off from compounds such as water to be used as fuel.
Only if this is done in a climate-friendly way rather than using fossil fuels does it count as “green hydrogen”.
The green type made up only 0.7 per cent of total hydrogen demand in 2022, according to the International Energy Agency. It says a 100-fold increase would be needed by 2030 to put things on track for net-zero deadlines.
Morocco’s ability to produce clean solar power is “not the issue” but Europe needs to firm up its plans to bring in the necessary investment, Ms Benali said.
She urged countries to see the “additional value” of green hydrogen as a tool to fight climate change and reshape energy politics.
“We are not asking for binding contracts today, but at least some visibility on how we are scaling the green hydrogen economy,” she said.
Partnership promise
European officials are stressing that they want partners in North Africa and beyond to benefit from the hydrogen trade.
Analysis for the Hydrogen Council, a group of companies, suggests a potential $3.7 trillion saving if hydrogen is traded across borders.
“We want to prevent that everyone is reinventing the solutions,” said Dutch Deputy Prime Minister Rob Jetten, who oversees climate and energy policy.
He said the talks in the UAE and Dutch-led forum had a “positive vibe” and “you can really feel the buzz”.
“A country like Morocco, but several other countries, are in potential an energy powerhouse to provide the rest of the world with green renewables and green hydrogen,” he said.
“But these are also countries that are still also trying to modernise their own economy, make sure there is cheap and affordable and renewable energy for their own local population.
“If we want to do this right … we have to connect it to the sustainable development goals and we have to connect this to making sure that we provide also for the local communities in the potential exporting countries.”
MATCH INFO
Bayern Munich 2 Borussia Monchengladbach 1
Bayern: Zirkzee (26'), Goretzka (86')
Gladbach: Pavard (37' og)
Man of the Match: Breel Embolo (Borussia Monchengladbach)
The specs
Engine: 2.0-litre 4-cylinder turbo
Power: 240hp at 5,500rpm
Torque: 390Nm at 3,000rpm
Transmission: eight-speed auto
Price: from Dh122,745
On sale: now
Company%C2%A0profile
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Profile
Co-founders of the company: Vilhelm Hedberg and Ravi Bhusari
Launch year: In 2016 ekar launched and signed an agreement with Etihad Airways in Abu Dhabi. In January 2017 ekar launched in Dubai in a partnership with the RTA.
Number of employees: Over 50
Financing stage: Series B currently being finalised
Investors: Series A - Audacia Capital
Sector of operation: Transport
The biog:
Languages: Arabic, Farsi, Hindi, basic Russian
Favourite food: Pizza
Best food on the road: rice
Favourite colour: silver
Favourite bike: Gold Wing, Honda
Favourite biking destination: Canada
In The Heights
Directed by: Jon M. Chu
Stars: Anthony Ramos, Lin-Manual Miranda
Rating: ****
Ad Astra
Director: James Gray
Stars: Brad Pitt, Tommy Lee Jones
Five out of five stars
SPECS
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Timeline
2012-2015
The company offers payments/bribes to win key contracts in the Middle East
May 2017
The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts
September 2021
Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act
October 2021
Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence
December 2024
Petrofac enters into comprehensive restructuring to strengthen the financial position of the group
May 2025
The High Court of England and Wales approves the company’s restructuring plan
July 2025
The Court of Appeal issues a judgment challenging parts of the restructuring plan
August 2025
Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision
October 2025
Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange
November 2025
180 Petrofac employees laid off in the UAE
UAE currency: the story behind the money in your pockets
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Avatar: Fire and Ash
Director: James Cameron
Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana
Rating: 4.5/5
Wicked: For Good
Director: Jon M Chu
Starring: Ariana Grande, Cynthia Erivo, Jonathan Bailey, Jeff Goldblum, Michelle Yeoh, Ethan Slater
Rating: 4/5
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Ten tax points to be aware of in 2026
1. Domestic VAT refund amendments: request your refund within five years
If a business does not apply for the refund on time, they lose their credit.
2. E-invoicing in the UAE
Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.
3. More tax audits
Tax authorities are increasingly using data already available across multiple filings to identify audit risks.
4. More beneficial VAT and excise tax penalty regime
Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.
5. Greater emphasis on statutory audit
There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.
6. Further transfer pricing enforcement
Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.
7. Limited time periods for audits
Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.
8. Pillar 2 implementation
Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.
9. Reduced compliance obligations for imported goods and services
Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.
10. Substance and CbC reporting focus
Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.
Contributed by Thomas Vanhee and Hend Rashwan, Aurifer
