According to Energy Minister Suhail Al-Mazrouei, the UAE has begun construction on "the first green hydrogen plant in the Middle East," and testing is presently ongoing.

The minister revealed no additional specifics about the plans while addressing at a private business gathering in Dubai.

Green hydrogen, which is produced by splitting water into its two components using electricity generated from renewable energy sources, is rapidly being seen as a fuel of the future for reducing carbon emissions from fossil fuels.

According to the state news agency WAM, the UAE plans to capture 25% of the global hydrogen fuel market by 2030 and is launching more than seven ambitious hydrogen projects aimed at important export markets such as Japan, South Korea, Germany, and India.

It also has an aim to achieve net-zero emissions by 2050, and has stated that it would manage investments in renewable energy worth 600 billion dirhams ($163 billion).

When questioned later by reporters about the United States' plans to unleash emergency oil stockpiles to lower energy costs, the minister said the UAE saw "no sense" in expanding its own supplies to global markets at this time.

He predicted an oil surplus in the first quarter of 2022 based on technical data acquired before of an impending OPEC+ meeting in December.

He also stated that there should be no shortages in the second quarter of 2022.