Saudi Aramco CEO warns of 'painful awakening' as energy costs rise Amin Nasser said that green energy would not replace oil as demand for crude continues to grow, especially from the Global South. Saudi Arabia
Exclusive Saudi finance minister hints kingdom could meet 2030 renewables target early On Monday, the kingdom commissioned its largest battery energy storage system to its grid, with a capacity of 500 megawatts and the ability to store 2,000 megawatt hours of electricity. By Jack Dutton In Bristol, reporting on regional business, climate change, AI, tech
Exclusive Global renewables surge forward despite Trump’s climate reversals, says IRENA chief Although Gulf countries are still heavily reliant on oil and gas, they are quickly moving toward a greener system, International Renewable Energy Agency head Francesco La Camera told Al-Monitor. By Jack Dutton In Bristol, reporting on regional business, climate change, AI, tech
Gulf wealth funds propel Middle East deals in 2024 The Gulf region continued its trajectory toward becoming a global investment powerhouse as sovereign wealth funds fed capital into AI, clean energy, entertainment, sports, start-ups and tourism. Saudi Arabia
Analysis Despite green energy deal blitz, Middle Eastern climate efforts fell flat in 2024 By Jack Dutton In Bristol, reporting on regional business, climate change, AI, tech
Egypt venture capital firm for startups develops solutions to climate change The Climate Resilience Fund targets nature-positive and sustainable projects that address mainly land and sea misuse. Egypt
COP27 presents Egypt financing opportunities for sustainable development Egypt is considering dozens of national green and sustainable development projects as part of the government’s plan to adapt to climate change and switch to green sustainable development, as it prepares to host the UN Climate Change Conference. Egypt
Israel, Cyprus to resolve disagreement over maritime gas field Most of the disagreement points between Israel and Cyprus over the joint Aphrodite-Yishai natural gas reservoir have been resolved, and an agreement is apparently imminent. Israel
UN envoy welcomes climate spotlight on Egypt, Africa "Africa is bringing solutions," said Mahmoud Mohieldin, the UN Climate Change High Level Champion for Egypt, in an exclusive interview with Al-Monitor. Egypt
Egypt explores production of green fuels for ships Egypt plans to cooperate with the Maersk global shipping group to establish a national network to produce and distribute green fuel for ships, depending on new and renewable energy sources, as the country gears up to host the COP27 climate summit. Egypt
Natural gas profits finally put Israel's wealth fund into business After four disappointing years, Israel’s wealth fund, based on tax revenues from natural gas companies, has enough money to begin making investments. Israel
Egyptian coal factory shuts down in lead-up to COP27 El-Nasr Company for Coke and Chemicals was liquidated recently, less than a year after another industry and steel company was closed down, as the Egyptian government seeks to abandon coal in its factories and rely more on clean energy. Egypt
Egypt enlists Australian company to help develop green hydrogen project Green hydrogen is receiving more attention in Egypt ahead of the upcoming UN climate change conference in Sharm el-Sheikh. Egypt
Dubai supplier to replace coal with natural gas in bid to reduce carbon emissions The Abu Dhabi National Oil Company signed an agreement to provide Dubai with natural gas, which will be used to generate electricity. Natural gas is a relatively clean fuel but does lead to carbon emissions. United Arab Emirates
With warming of diplomatic ties, Israel, Turkey expect bilateral trade boom Now that diplomatic relations have improved, Israel hopes to increase and expand its exportations to Turkey in fields such as water treatment, smart agriculture and energy. Israel
China’s NWTN to build electric vehicle facility in Abu Dhabi The deal represents the UAE’s push toward green technology, as well as China’s growing influence in the wider region. Gulf
Saudi firm Alfanar to build green hydrogen plant in Egypt Saudi Arabia is helping Egypt boost its renewable energy capabilities. Egypt
