Abu Dhabi National Oil Company (ADNOC) is holding talks with energy companies for them to purchase equity stakes in the hydrogen projects, the sources referred.
ADNOC, which already produces hydrogen for its refineries, also aims to enter into long-term supply contracts before making any progress with these investments.
Amid a global push to reduce greenhouse-gas emissions, the state-owned oil companies in the Gulf region seek to turn their expertise in exporting liquid fuel into shipping hydrogen or ammonia across the world for electricity, transport, and industrial use.
Most of the ADNOC exports are expected to be blue hydrogen, created by converting natural gas and capturing the carbon dioxide by-product, according to Bloomberg.
The sources said that the Abu Dhabi-based company will raise its production of hydrogen by expanding an oil-processing plant and the Borouge petrochemical facility at the Ruwais industrial hub, as the extra hydrogen will be used for an ammonia facility planned with Fertiglobe.
Abu Dhabi also plans to develop green hydrogen, which is generated from renewable energy such as solar power.
Noteworthy to mention, in May 2021, ADNOC announced that it will construct a world-scale blue ammonia production facility in Ruwais in Abu Dhabi to contribute to the UAE's efforts to create local and international hydrogen value chains.