Saudi Arabia’s energy mix is currently dominated by fossil fuels, with approximately 98% of electricity generated from natural gas and oil. As of 2024, the mix is roughly 66% oil and 34% natural gas, though the Kingdom is aggressively diversifying under Vision 2030, aiming for a 50% renewable energy share and 50% gas for electricity generation by 2030.

Saudi Arabia is rapidly positioning itself as a global leader in green hydrogen, leveraging its massive solar and wind resources to diversify its economy away from oil as part of Vision 2030. The Kingdom is currently constructing what is set to be the world’s largest utility-scale green hydrogen plant in NEOM, with a second, even larger mega-project recently announced for Yanbu.