ABU DHABI - Jordan plans to raise its renewable energy targets by the end of the year or by early 2024, Energy Minister Saleh Kharabsheh said on Tuesday, as the country approached its 2030 target for the proportion of renewable energy that it uses.
Renewable energy now makes up about 27% of the country's energy mix, close to the targeted 30% by 2030, a goal that will be updated, he told Reuters at Abu Dhabi's energy industry conference ADIPEC.
Jordan will unveil its green hydrogen strategy, with targets for 2030 and beyond.
"Today, we expect some 500 (or) 600,000 tons (of green hydrogen) before 2030 and we have other targets towards the year 2040, 2050," Kharabsheh said.
He said companies from South Korea, Japan, the United Arab Emirates, Saudi Arabia, Germany, the United States and Britain have expressed interest in Jordan's green hydrogen plans.
Preliminary agreements on green hydrogen are expected to be signed "during the coming two months," he said.
Jordan is also looking to boost production at its Risha natural gas field, currently at around 30 million cubic feet per day "to 200 million cubic feet per day by 2030," he said.
There are plans to expand natural gas use domestically as well, he said.
Local fuel prices are determined by energy prices on international markets, he said.
"It's a monthly adjustment that reflects the international prices. It's not the intention to increase the prices, it's about international markets."
He said he views current oil prices as "quite high."
"I think around 80 (dollars per barrel), from my point of view, is a fair price - 72 to 80. That preserves both the benefits for the producing countries and consuming countries."
(Reporting by Yousef Saba Editing by Bernadette Baum)