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An initiative to create an exclusive trading platform for zero emission energy is currently underway, the President of Dii Desert Energy, a Dubai-based independent international network working on transforming energy systems in the MENA region, said.
Paul van Son announced: “A functioning market with exchange among each other is the best way to ensure security of supply. That is why there is now an initiative to create a trading platform exclusively for zero-emission energy. In this way, carbon dioxide reduction can be decoupled from physical transport. Similar to "green electricity", a certificate system can significantly accelerate the development towards climate-neutral forms of energy. We will soon come with a detailed proposal”.
Speaking to journalists on the side-lines of the Dii Desert Energy Leadership Summit at Cairo, Egypt, Paddy Padmanabhan, CEO of the Saudi-based energy giant ACWA Power said until green hydrogen is produced at volume, it will be traded through bilateral contracts with the cost of production driving the pricing.
He said grey ammonia is currently trading at $1,400 per tonne and at current [energy] prices, it green ammonia is cheaper.
(Writing by Sowmya Sundar; Editing by Anoop Menon)
