Energy Transition in the Middle East - New Opportunities for Business and Investment from Changing Energy Policy in the MENA Region - MEED Insights

2.1 COP 26 and the UN climate change agreement
2.1.1 The role of the COP
2.1.2 Notable COP meetings
2.2 The objectives of COP 26
2.3 Key players and their policies
2.3.1 China
2.3.2 United States
2.3.3 India
2.3.4 European Union
2.3.5 Russia
2.3.6 Indonesia
2.3.7 Brazil
2.3.8 Japan

3.1 The outlook for energy demand
3.1.1 Net zero pledges
3.1.2 Alternative scenarios
3.2 The future of Middle East utilities
3.2.1 Renewables reshape global energy
3.2.2 The future of Middle East utilities
3.2.3 Energy storage game changer
3.2.4 Regional interconnection
3.3 Energy storage and grid integration
3.3.1 Storage
3.3.2 Hydrogen storage
3.4 Digitalisation and smart grids
3.4.1 Digitalisation of energy
3.4.2 Smart grids
3.5 New fuels and the cost of energy
3.5.1 Biofuels
3.5.2 Hydrogen and other low-carbon gases
3.5.3 Cost factors
3.6 Key players in the Middle East energy transition
3.6.1 Algeria
3.6.2 Egypt
3.6.3 Jordan
3.6.4 Morocco
3.6.5 Saudi Arabia
3.6.6 UAE
3.7 Key projects in the region and around the world

4.1 The electrification of transport
4.1.1 Road transport
4.1.2 Rail
4.1.3 Aviation
4.1.4 Shipping
4.1.5 Challenges to electrification
4.2 The electrification of transport in the Middle East
4.3 Key initiatives and projects
4.3.1 Egypt / public transport
4.3.2 Iran / electrification of rail network
4.3.3 Morocco / high-speed rail
4.3.4 Qatar / electric buses
4.3.5 Saudi Arabia / Lucid motors
4.3.6 Saudi Arabia / Neom

5.1 National targets
5.1.1 Algeria
5.1.2 Bahrain
5.1.3 Egypt
5.1.4 Iran
5.1.5 Iraq
5.1.6 Jordan
5.1.7 Kuwait
5.1.8 Morocco
5.1.9 Oman
5.1.10 Qatar
5.1.11 Saudi Arabia
5.1.12 Syria
5.1.13 Tunisia
5.1.14 UAE
5.2 Key organisations in Middle East renewables
5.2.1 Algeria
5.2.2 Bahrain
5.2.3 Egypt
5.2.4 Iran
5.2.5 Iraq
5.2.6 Jordan
5.2.7 Kuwait
5.2.8 Morocco
5.2.9 Oman
5.2.10 Qatar
5.2.11 Saudi Arabia
5.2.12 Syria
5.2.13 Tunisia
5.2.14 UAE
5.3 Key renewable energy projects in the Middle East
5.3.1 Solar energy projects
5.3.2 Wind energy projects
5.3.3 Waste-to-energy projects
5.3.4 Hydrogen projects

6.1 Energy investment outlook improves
6.1.1 Apicorp report: Mena Energy Investment Outlook 2021-25
6.1.2 Investing in power
6.1.3 Renewables investment
6.1.4 Solar and wind investment
6.1.5 Investing in energy storage
6.1.6 Investing in hydrogen and ammonia
6.1.7 Natural gas investment
6.1.8 Petrochemicals investments
6.2 Mena energy transition contract award trends
6.2.1 Decline in oil and gas power awards
6.2.2 Surge in solar power generation awards
6.2.3 Turkish coal
6.2.4 Oil project investment declines dramatically
6.2.5 Gas contract awards surge
6.2.6 Chemical project investment

7.1 Green hydrogen emerges
7.2 Green hydrogen opportunities and projects
7.2.1 Opportunities for hydrogen fuel
7.2.2 Overcoming obstacles to hydrogen fuel
7.2.3 Middle east region eyes green hydrogen as future fuel
7.2.4 Green hydrogen projects in the Middle East
7.2.4.1 Helios Green Fuels Project, Neom
7.2.4.2 Green Hydrogen and Ammonia Facility, Duqm
7.2.4.3 Green hydrogen power facility, Duqm
7.2.4.4 Green fuels project, Oman
7.2.4.5 Hyport Duqm, Oman
7.2.4.6 Green Ammonia Facility at Kizad
7.2.4.7 Waste-to-Hydrogen Plant in Sharjah
7.2.4.8 Masdar City: Green Hydrogen Demonstrator Plant
7.2.4.9 Taqa - Abu Dhabi Ports green Ammonia Facility
7.2.4.10 Dewa green hydrogen pilot project
7.2.5 Green hydrogen players in the Middle East and North Africa
7.3 Outlook for hydrogen supply and demand
7.3.1 Green hydrogen market potential
7.3.2 Competing with fossil fuels
7.3.3 Infrastructure and supply chains
7.3.4 Staying competitive
7.3.5 Pushing down prices
7.3.6 Gulf nears hydrogen benchmark
7.3.7 Aramco’s hydrogen expansion
7.3.8 Saudi’s hydrogen pipeline plans
7.3.9 Investment in hydrogen
7.3.10 Regulatory framework
7.3.11 Grid integration
7.4 Outlook for hydrogen supply and demand
7.4.1 Saudi Arabia’s hydrogen pact with Germany
7.4.2 Belgian firm and Egypt sign hydrogen agreement
7.4.3 Adnoc and GS Energy to explore hydrogen opportunities
7.4.4 Aramco signs hydrogen cooperation deal with Hyundai
7.4.5 Hinicio studies hydrogen feasibility in Oman
7.4.6 Hydrogen vehicles in the UAE
7.4.7 Abu Dhabi Hydrogen Alliance

• Strategies for Middle East oil

8.1 The future of fossil fuel: Long term outlook for oil and gas demand
8.1.1 Mixed forecasts for peak demand
8.1.1.1 McKinsey
8.1.1.2 Equinor
8.1.1.3 BP
8.1.1.4 Bernstein Energy
8.1.1.5 Rystad Energy
8.1.1.6 IEA
8.1.1.7 Vitol
8.1.1.8 Goldman Sachs
8.1.1.9 Wood Mackenzie
8.1.1.10 Opec
8.2 The future of fossil fuel. Long term outlook for oil and gas demand
8.2.1 The outlook for oil and gas revenues in the Mena region
8.2.2 Regional competitiveness
8.2.3 Sustained Mena production
8.2.4 Comparing scenarios
8.2.5 Geopolitical considerations
8.2.6 Oil economy outlook
8.3 The future of fossil fuel. Long term outlook for oil and gas demand
8.3.1 How Middle East NOCs are responding to the energy transition
8.3.1.1 Saudi Aramco
8.3.1.2 Adnoc
8.3.1.3 Kuwait Petroleum Corporation
8.3.1.4 Qatar Petroleum
8.3.1.5 Bahrain Petroleum Company
8.3.1.6 Oman
8.3.1.7 Iraq’s NOCs
8.3.1.8 Sonatrach
8.3.1.9 Egypt
8.3.1.10 Libya’s National Oil Corporation

9.1 Overview
9.2 Structure
9.3 Renewable capacity and generation
9.3.1 Installed renewable capacity
9.3.2 Renewable power generation
9.3.3 Generation capacity challenges
9.4 Renewable energy policy
9.5 Projects
9.5.1 Renewable projects under execution
9.5.2 Upcoming renewable projects
9.6 Key contacts

10.1 Market overview
10.1.1 Impact of COVID-19
10.2 Market structure
10.2.1 Government
10.3 Renewable capacity and generation
10.3.1 Installed renewable capacity
10.3.2 Renewable power generation
10.4 Renewable energy policy
10.4.1 Renewable energy plans and targets
10.4.2 Public-Private partnerships
10.4.3 Renewable Energy Certificate (REC)
10.4.4 Wind projects
10.5 Projects
10.6 Key contacts

11.1 Market overview
11.2 Market structure
11.2.1 Government
11.3 Renewable capacity and generation
11.4 Renewable energy policy
11.4.1 Fuel and alternative energy
11.4.2 Targets
11.4.3 Feed-in tariff (FIT) programme
11.4.4 Renewables procurement models
11.5 Projects
11.5.1 Solar power projects
11.5.2 Wind power projects
11.6 Key contacts

12.1 Overview
12.2 Structure
12.2.1 Government
12.2.2 Private sector
12.3 Renewable capacity and generation
12.3.1 Installed renewable capacity
12.3.2 Renewable power generation
12.4 Renewable energy policy
12.4.1 Fuel & alternative energy
12.5 Projects
12.5.1 Solar projects
12.5.2 Wind projects
12.5.3 Waste-to-energy projects
12.6 Key contacts

13.1 Overview
13.2 Structure
13.2.1 Government
13.2.2 Private sector
13.3 Renewable capacity and generation
13.3.1 Installed renewable capacity
13.3.2 Renewable power generation
13.4 Renewable energy policy
13.5 KRG region
13.5.1 Overview
13.5.2 Structure
13.5.3 Renewable energy policy
13.6 Projects
13.6.1 Renewable projects planned and underway
13.7 Key contacts

14.1 Market overview
14.1.1 Impact of COVID-19
14.2 Market structure
14.2.1 Government
14.2.2 Private power
14.2.3 Sector reform
14.3 Renewable capacity and generation
14.3.1 Installed renewable capacity
14.3.2 Renewable power generation
14.4 Renewable energy policy
14.5 Projects
14.5.1 Major renewable projects under execution
14.5.2 Upcoming renewable energy projects
14.5.3 Renewable projects (operation/completed)
14.5.4 Storage project
14.5.5 International electrical interconnection
14.6 Key contacts

15.1 Market overview
15.2 Market structure
15.2.1 Government
15.2.2 Private sector
15.2.3 Sector reform
15.3 Renewable capacity and generation
15.3.1 Installed renewable capacity
15.3.2 Renewable power generation
15.4 Renewable energy policy
15.4.1 Renewable energy status in Kuwait
15.5 Projects
15.5.1 Major upcoming renewable energy projects
15.5.2 Major cancelled/on hold renewable projects
15.5.4 Other renewable energy initiatives
15.6 Key contacts

16.1 Market overview
16.1.1 Impact of COVID-19
16.2 Market structure
16.2.1 Government
16.2.2 Private power
16.2.3 Sector reform
16.3 Renewable capacity and generation
16.3.1 Installed renewable capacity and generation
16.3.2 Challenges
16.4 Renewable energy policy
16.4.1 Solar power
16.4.2 Wind power
16.5 Projects
16.5.1 Solar projects under execution
16.5.2 Upcoming solar projects
16.5.3 Wind power projects
16.5.4 Waste-to-energy project
16.5.5 Hydro power projects
16.6 Key contacts

17.1 Overview
17.2 Structure
17.2.1 Government
17.2.2 Private sector
17.3 Renewable capacity and generation
17.3.1 Installed renewable capacity
17.3.2 Renewable power generation
17.4 Renewable energy policy
17.4.1 Targets
17.5 Projects
17.5.1 Renewable projects under execution
17.5.2 Upcoming renewable projects
15.6 Key contacts

18.1 Market overview
18.2 Market structure
18.2.1 Government
18.2.2 Private power programme
18.3 Renewable capacity and generation
18.3.1 Installed renewable capacity
18.3.2 Renewable power generation
18.3.3 Solar potential
18.4 Renewable energy policy
18.4.1 Targets and initiatives
18.5 Projects
18.6 Key contacts

19.1 Market overview
19.2 Market structure
19.2.1 Government
19.2.2 Private power
19.3 Renewable capacity and generation
19.4 Renewable energy policy
19.4.1 Historical overview
19.5 Projects
19.5.1 Saudi Arabia plans CSP project
19.5.2 National Renewable Energy Programme
19.5.3 Smart grid implementation
19.5.4 Carbon trading scheme and other emission
19.5.5 Storage project
19.6 Key contacts

20.1 Market overview
20.1.1 Impact of COVID-19
20.2 Market structure
20.3 Renewable capacity and generation
20.3.1 Installed renewable capacity
20.3.2 Renewable power generation
20.4 Renewable energy policy
20.5 Projects
20.6 Key contacts

21.1 Market overview
21.1.1 Impact of COVID-19
21.2 Market structure
21.2.1 Government
21.2.2 Private power
21.2.3 Sector reform
21.3 Renewable capacity and generation
21.3.1 Installed renewable capacity
21.3.2 Renewable power generation
21.4 Renewable energy policy
21.4.1 Historical overview
21.4.2 Renewable energy policy and targets
21.5 Projects
21.5.1 Recently awarded projects
21.5.2 Major upcoming renewable projects
21.6 Key contacts

22.1 Overview
22.2 UAE Energy Strategy 2050
22.2.1 Other policies
22.3 UAE energy market structure
22.4 Renewable energy generation capacity
22.4.1 Alternative fuel and capacity
22.5 Abu Dhabi
22.5.1 Overview
22.5.2 Major clean energy projects in Abu Dhabi
22.6 Dubai
22.6.1 Overview
22.6.2 Clean energy projects
22.6.2.1 Solar IPP Programme
22.6.2.2 Other projects
22.6.3 Financing clean energy in Dubai
22.7 Northern Emirates
22.7.1 Overview
22.7.2 FEWA
22.7.4 SEWA
22.8 Key contacts

• Disclaimer

Table 1: COP hosts
Table 2: Key organisations driving renewable energy in the Mena region
Table 3: Selected renewable energy projects in Mena
Table 4: Renewable energy installed capacity, 2020-30 (MW)
Table 5: Major CSP projects
Table 6: Major wind projects in the pre-execution phase.
Table 7: Major Waste to Energy projects
Table 8: Hydrogen projects and agreements
Table 9: Algeria power and renewables sector key facts, 2020
Table 10: Algeria planned capacity increases by fuel type (MW), 2015-2030
Table 11: Algeria renewable energy projects underway.
Table 12: Algeria renewable energy projects planned
Table 13: Algeria key contacts
Table 14: Bahrain power and renewables sector key facts, 2020
Table 15: Bahrain renewable power generation projects, planned, underway and operation
Table 16: Bahrain key contacts
Table 17: Egypt power and renewables sector key facts, 2020
Table 18: Egypt, renewable energy supporting policies, laws, and regulations
Table 19: Renewable energy schemes by institutions in Egypt
Table 20: Solar FITs
Table 21: Wind FITs
Table 22: Egypt round II solar FIT tariffs ($c/kWh)
Table 23: Egypt round II wind FIT tariffs ($c/kWh)
Table 24: EBRD backed projects, FIT round 2.
Table 25: IFC-backed projects, Egypt FIT round 2
Table 26: Planned merchant IPP renewables projects up to 2022
Table 27: Solar power projects in Egypt ($m) under execution
Table 28: Upcoming solar power projects in Egypt ($m)
Table 29: Wind power projects in Egypt ($m) under execution
Table 30: Upcoming wind power projects in Egypt ($m)
Table 31: Egypt key contacts
Table 32: Iran power and renewables sector key facts, 2020
Table 33: Renewable energy capacity from solar PV, wind, and small hydropower (MW), 2010-2020
Table 34: Iran electricity production by fuel type (% of total), 2010-2020
Table 35: Companies with renewable and clean power purchase agreements at the end of December 2019 in Iran
Table 36: Renewables FIT rates, October 2019 .
Table 37: Iran renewable energy projects under execution
Table 38: Iran renewable energy projects in pre-execution phase
Table 39: Iran key contacts
Table 40: Iraq power and renewables sector key facts, 2020
Table 41: Renewable energy projects planned and underway in Iraq ($m)
Table 42: Iraq power sector key contacts
Table 43: Jordan power and renewables sector key facts, 2020 .
Table 44: Jordan Installed capacity (MW), 2016-2020
Table 45: Jordan’s CEGCO installed capacity by plant
Table 46: SEPCO installed capacity, 2011-2018
Table 47: Jordan’s renewable energy tariffs
Table 48: Jordan, renewable power projects under execution
Table 49: Jordan, planned renewable power projects
Table 50: Jordan key contacts.
Table 51: Kuwait power and renewables sector key facts, 2020.
Table 52: Existing power plants generation capacity
Table 53: Kuwait, upcoming renewable power projects .
Table 54: Small-scale solar schemes in Kuwait
Table 55: Kuwait renewable sector key contacts.
Table 56: Morocco power and renewables sector key facts, 2020
Table 57: Solar power projects planned in Morocco.
Table 58: Morocco wind power projects under construction
Table 59: Morocco hydro power projects under construction
Table 60: Upcoming hydro power generation projects in Morocco
Table 61: Morocco key contacts
Table 62: Oman power and renewables sector key facts, 2020
Table 63: Renewable Energy Development Plan - MIS (MW), 2019-2025
Table 64: Renewable power projects under execution
Table 65: Major renewable power projects, planned
Table 66: Oman key contacts .
Table 67: Qatar power and renewables sector key facts, 2020
Table 68: Renewable power projects, planned and underway
Table 69: Qatar key contacts
Table 70: Saudi Arabia power and renewables sector key facts, 2020
Table 71: Saudi Arabia, Upcoming Renewables projects in 2021

Figure 1: The carbon challenge
Figure 2: Carbon dioxide emissions per capita (tonnes), 2019.
Figure 3: Carbon emissions by country (million tonnes of carbon dioxide), 2009-2019
Figure 4: GCC solar photovoltaic IPP tariffs, Low bid ? LCOE ($cents/kWh)
Figure 5: World's biggest emitters (MtCO2e per year in 2018)
Figure 6: National net zero emissions pledges
Figure 7: Forecasted battery storage dedicated to the power sector by region (GWh)
Figure 8: Renewable energy costs ($/kWh)
Figure 9: Global sales of electric and plug-in hybrid vehicles
Figure 10: Renewable power project contract awards ($m), 2019?2020 .
Figure 11: Renewable power project award pipeline ($m)
Figure 12: GCC countries renewable energy targets
Figure 13: LCOE of different forms of technology ($/MWh)
Figure 14: Untapped potential of renewable energy sources by region
Figure 15: Planned and committed energy investments in the Mena region, 2021-2025 ($bn)
Figure 16: Planned and committed Mena energy investments 2021-2025, by sector ($bn)
Figure 17: Value of power contract awards in the Mena region, 2017-2021* ($bn)
Figure 18: Value of oil contract awards in the Mena region, 2017-2021* ($bn)
Figure 19: Value of Mena gas project contract awards, 2017-2021* ($bn)
Figure 20: Value of Mena chemical project contract awards, 2017-2021* ($bn)
Figure 21: Hydrogen applications and decarbonisation
Figure 22: Green hydrogen production, conversion and end uses across the energy system
Figure 23: Middle East Hydrogen projects and agreements
Figure 24: Projected falling costs for green hydrogen poduction
Figure 25: Hydrogen export potential per country
Figure 26: Liquids demand scenarios through 2040
Figure 27: Fossil fuel demand (million TJ)
Figure 28: Total final consumption by fuel in rebalance (GTOE)
Figure 29: Vulnerability of petrostate to low oil and gas demand and population size .
Figure 30: 2021-2040 Government revenue under different demand/price scenarios.
Figure 31: Impact of low carbon scenario on oil and gas revenues, regions
Figure 32: Oil and gas production volumes under a low demand scenario, 20 targets NOCs .
Figure 33: Value of Mena oil, gas and petrochemicals projects, 2015-2021
Figure 34: Oil, gas and chemical project activity in Saudi Arabia, 2015-2021.
Figure 35: Oil, gas and chemical project activity in the UAE, 2015-2021
Figure 36: Oil, gas and chemical project activity in Kuwait, 2015-2021.
Figure 37: Oil, gas and chemical project activity in Qatar, 2015-2021
Figure 38: Oil, gas and chemical project activity in Bahrain, 2015-2021
Figure 39: Oil, gas and chemical project activity in Oman, 2015-2021
Figure 40: Oil, gas and chemical project activity in Iraq, 2015-2021 .
Figure 41: Oil, gas and chemical project activity in Algeria, 2015-2021.
Figure 42: Oil, gas and chemical project activity in Egypt, 2015-2021
Figure 43: Algeria's installed generation capacity by fuel type in 2020 (MW)
Figure 44: Oil fields in the Divided Zone
Figure 45: Algeria installed renewable capacity (MW), 2015-2030
Figure 46: Algeria installed renewable capacity by fuel type (per cent), 2015-2020 (Phase 1)
Figure 47: Algeria installed renewable capacity by fuel type (per cent), 2021-2030 (Phase 2)
Figure 48: Algeria annual renewable power generation (GWh), 2015-2030 .
Figure 49: Bahrain installed renewable capacity by fuel type (MW), 2015-2030
Figure 50: Bahrain annual renewable power generation by fuel type (GWh), 2015-2030
Figure 51: Renewable energy projects, 2011-2020 ($m)
Figure 52: Structure of the Egyptian electricity sector .
Figure 53: Egypt installed renewable capacity (MW), 2015-2030
Figure 54: Egypt annual renewable power generation (GWh), 2015-2030
Figure 55: Total renewables installed capacity by technology (%), 2020
Figure 56: Evolution of installed power capacity (GW) by fuel-type as in the ISES, 2019-2035.
Figure 57: Iran installed renewable capacity (MW), 2015-2030
Figure 58: Iran installed renewable capacity by technology (%), 2020 .
Figure 59: Iran annual renewable power generation (GWh), 2015-2030
Figure 60: Iran renewable energy installations
Figure 61: Iraq installed renewable capacity (MW), 2015-2030
Figure 62: Iraq annual renewable power generation (GWh), 2015-2030
Figure 63: Comparison of LCOE of solar power and electricity from oil and gas ($/MWh), 2015-2030
Figure 64: Comparison of peak electricity demand and average power generation in Iraqi Kurdistan (MW), 2004-2017 .
Figure 65: Structure of the KRG Electricity Ministry
Figure 66: Kurdistan region location of existing power generating plants
Figure 67: Jordan electricity sector
Figure 68: Jordan, measures to integrate high shares of variable renewables in the power mix
Figure 69: Jordan installed renewable capacity (MW), 2015-2030
Figure 70: Location of CEGCO power plants in Jordan
Figure 71: Jordan renewable power generation (GWh), 2015-2030
Figure 72: Spatial distribution of global solar irradiation in kWh/m2 resource maps for Jordan
Figure 73: Spatial distribution of wind irradiation in Jordan
Figure 74: Jordan, renewable energy financing landscape
Figure 75: Kuwait installed renewable capacity (MW), 2015-2030
Figure 76: Kuwait annual renewable power generation (GWh), Kuwait, 2015-2030
Figure 77: Solar thermal electricity generating potential in Kuwait
Figure 78: Proposed output levels from the Al-Abdaliya ISCC.
Figure 79: Morocco installed renewable capacity (MW), 2015-2030
Figure 80: Morocco annual renewable power generation (GWh), 2015-2030
Figure 81: Morocco target fuel mix (%), 2020
Figure 82: Solar radiation map of Morocco
Figure 83: Wind map of Morocco
Figure 84: Renewable energy power contract awards, 2010-2020 ($m)
Figure 85: The MIS and Salalah systems
Figure 86: Oman installed renewable capacity (MW), 2015-2030