Saudi Arabia is well positioned to lead the world on green hydrogen: PwC 

Stephen Anderson, Middle East strategy and markets leader at PwC. (AN Photo)
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Updated 17 December 2022
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Saudi Arabia is well positioned to lead the world on green hydrogen: PwC 

SHARM EL-SHEIKH: Saudi Arabia is perfectly poised to lead the world in green hydrogen production and drive a consumption model that thrives on reusing and recycling practices, said a senior PwC official. 

Speaking to Arab News on the sidelines of the UN Climate Change Conference, Stephen Anderson, Middle East strategy and markets leader at PwC, said: “There is an opportunity for Saudi to lead the world on pioneering hydrogen and circular economies.” 

The Kingdom has already taken the first step globally, as Saudi Arabian Oil Co. and Saudi Basic Industries Corp. announced the world’s first blue ammonia shipment to Japan in 2020. 

Furthermore, Saudi Arabia is building a $5 billion green hydrogen project in NEOM, powered by renewable energy, to supply 650 tons of carbon-free hydrogen daily. 

As part of its effort to create a greener future, the Saudi Green Initiative is also establishing a regional carbon capture and storage center, an early storm warning center and cloud-seeding programs. 

That is not all. Endorsing Saudi Arabia’s environmental commitment, Crown Prince Mohammed bin Salman announced the Kingdom would contribute $2.5 billion to the Middle East Green Initiative over the next 10 years and host its headquarters. 

“The announcement around the funding was fundamental, as there is a significant challenge across the Middle East,” said PwC’s Anderson. 

According to him, the Gulf countries must tackle climate change, as the area is highly exposed to climate threats, including high temperatures and water scarcity. 

“There are a lot of threats from the impact of climate change on Saudi and the broader GCC (Gulf Cooperation Council) in terms of temperature, water scarcity and biodiversity,” he said. 

“Saudi Arabia faces significant challenges in climate perspectives, but equally, there is a huge opportunity that we are looking to support,” he said.  

In 2020, PwC committed to reducing total greenhouse gas emissions by 50 percent, in absolute terms, by 2030.  

“We already managed to have all of our electricity coming from renewable energy,” Anderson said. 


Kuwait’s Jazeera Airways introduces ‘fly now, pay later’ option

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Kuwait’s Jazeera Airways introduces ‘fly now, pay later’ option

RIYADH: Kuwaiti low-cost carrier Jazeera Airways has introduced a “fly now, pay later” payment option, partnering with local fintech firm deema to offer interest-free installment payments.

The airline said the new payment solution allows passengers to split flight costs into two to four installments through deema, Kuwait’s first licensed buy-now, pay-later platform, providing greater flexibility for travelers amid rising demand for digital payment options. 

The integration is embedded into Jazeera Airways’ booking platform, enabling instant eligibility checks at checkout and allowing customers to complete purchases without additional financing steps, according to a press release.

The launch highlights increasing collaboration between airlines and financial technology firms in the Gulf, as carriers introduce more flexible payment options within their booking platforms. 

Barathan Pasupathi, CEO of Jazeera Airways, said: “At Jazeera Airways, we are committed to lowering the barriers to travel through agile digital innovation. By achieving our fastest-ever payment integration with deema, we are not just adding a payment method; we are providing a seamless, Kuwaiti homegrown financial solution.”  

He added: “This partnership empowers our passengers to ‘fly now and pay later’ with absolute ease, reinforcing our mission to make travel accessible to everyone.” 

The system currently supports transactions in Kuwaiti dinars, with the airline receiving the full booking amount upfront while deema handles customer repayments. 

“We are very excited to partner with Jazeera Airways as the first airline in Kuwait to introduce the deema solution. This was one of the quickest integrations achieved - thanks to the fast moving and talented team at Jazeera Airways,” said Bader Al-Ghanim, head of innovation and partnerships at deema.  

He added: “This project truly demonstrates the airline’s ability to rapidly deploy customer-centric solutions to meet the evolving needs of its tech-savvy travelers.” 

Jazeera Airways said the partnership forms part of a wider effort to expand its digital ecosystem and support Kuwait’s growing fintech sector by working with local technology providers. 

The airline added that the “fly now, pay later” offering is among several planned digital initiatives aimed at improving customer experience across its expanding route network.