The Middle East's energy landscape is undergoing a dual transformation, with significant growth in renewable projects alongside upgrades to traditional energy infrastructure. Solar capacity tripled between 2020 and 2023, while wind power has doubled, driven by initiatives like Saudi Arabia’s National Transformation Plan.
At the same time, carbon capture and hydrogen projects are steadily advancing. Saudi Arabia opened its second carbon capture facility in 2023, and nations like Oman and Qatar are accelerating hydrogen development with new policies and projects.
Despite these renewable energy advancements, oil and gas still dominate the region. Several new production fields and expansion projects went online in 2023, while the region faces decisions on whether to modernize or decommission aging assets in traditional energy sectors.
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