SARCO Non-Binding Hydrogen MoU With UAE Firm Go Energy Expires

Saudi Arabian Refineries Company (SARCO) stated in a filing to the Saudi Exchange (Tadawul) on Monday, 12 October, that its non-binding memorandum of understanding (MoU) with UAE-based Go Energy to develop a green hydrogen project in Saudi Arabia has expired without a definitive agreement, according to a report by Utilities Middle East citing Argaam. Zawya Projects reported that SARCO's plans for the project are not proceeding.

SARCO confirmed in the regulatory filing that the expiration carries no financial obligations and does not impact the company's financial position or business results. The non-binding MoU had originally been entered into in October 2025 to explore collaborative opportunities in green hydrogen and green ammonia production within Saudi Arabia.

Utilities Middle East noted that SARCO maintains a separate non-binding MoU signed in May with China's Ally Hydrogen Energy for a green ammonia plant in Jazan Industrial City, as reported by Arab News. That partnership also encompasses a domestic hydrogen equipment manufacturing and assembly facility and an academic research centre with Saudi universities, aligned with Saudi Arabia's target under the National Renewable Energy Program to produce 1.2 million tonnes of green hydrogen annually by the end of the decade.