SARCO says Saudi green hydrogen project MoU has expired
SARCO said its non-binding MoU with UAE-based Go Energy for a Saudi green hydrogen and ammonia project expired without a final deal.
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what happened
Zawya reports that Saudi Arabia Refineries Company (SARCO) is no longer proceeding with plans to develop a green hydrogen and ammonia project in Saudi Arabia with UAE-based Go Energy.
The company told the Saudi Stock Exchange on Monday that the non-binding memorandum of understanding signed with Go Energy in October 2025 expired without the parties reaching a binding agreement. SARCO said the expiry would create no financial obligations and would not affect its financial position or business results.
The Kuwait-based Organisation of Arab Petroleum Exporting Countries (OAPEC) said 133 hydrogen production projects had been announced or planned across Arab countries by the end of March. The total was nearly four times the number recorded in 2021.
why it matters
The expired MoU removes any stated financial obligation for SARCO while highlighting the uncertain pace of hydrogen-project development in the region. OAPEC’s tally of 133 announced and planned projects shows the sector remains broad despite individual projects not advancing.
instruments
sources
- SARCO says MoU to develop green hydrogen project in Saudi Arabia expires — Zawya, 12 October 2026 at 09:31 UTC
prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.
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