Mubadala and Snam ink MoU on hydrogen
MASDAR, March 23, 2021 – The UAE’s Mubadala Investment Company and Italy’s Snam have signed an MoU for joint investment and development initiatives on hydrogen.
Via this agreement, the two companies will carry out assessment activities, including technical and economic feasibility studies to explore potential projects and solutions to foster and promote hydrogen development in the UAE and globally.
This reinforces both companies’ vision of hydrogen as a key enabler of the energy transition and of its huge commercial and technological potential.
The MoU was signed between Mussabeh Al Kaabi, CEO of UAE Investments at Mubadala, and Marco Alverà, CEO of Snam. “This signing with Snam is an extension of our joint efforts to develop a hydrogen economy for the UAE, and we are committed to advancing the role hydrogen will play to meet future energy demand globally,” Al Kaabi said.
For his part, Alverà said Snam sees investments in the UAE and Gulf area as strategic due to their role in the energy transition.
Snam, one of the world’s leading energy infrastructure operators, was Europe’s first company to test the injection of a blend of hydrogen and natural gas in its network and it is committed to making its infrastructure ready to transport increasing volumes of hydrogen. The company has a business unit dedicated to scouting new technologies and developing new projects via partnerships to adopt hydrogen in several industries including railways and steel.
In January, Mubadala established the Abu Dhabi Hydrogen Alliance together with ADNOC and ADQ, by which they will develop a roadmap to accelerate the UAE’s adoption and use of hydrogen in utilities, mobility and industry, with the aim of positioning Abu Dhabi as an international leader in the supply of hydrogen.
The UAE has taken a firm step towards establishing a hydrogen economy with the construction of a demonstrator plant for green hydrogen, sustainable fuels and e-kerosene for transport, shipping and aviation in Masdar City.