Mubadala & Snam to Foster Hydrogen Development in UAE
Mubadala Investment Company and one of the world's leading energy infrastructure operators Snam have signed a Memorandum of Understanding, with the aim to collaborate on joint investment and development initiatives on hydrogen. As part of the agreement, the two companies will carry out a number of assessment activities, including technical and economic feasibility studies to explore potential projects and solutions to foster and promote hydrogen development in the UAE, and elsewhere globally.
The MoU reinforces the confidence of both Mubadala and Snam in the commercial and technological potential of the hydrogen industry, as well as its capacity to accelerate the energy transition.
Snam 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 get its infrastructure ready to transport increasing volumes of hydrogen. The company also set up a business unit fully dedicated to the scouting for new technologies as well as developing new projects by teaming up with other partners to adopt hydrogen in several industries such as railways and steel.
Last year, Mubadala joined the Investor Group of the Hydrogen Council, demonstrating the company's growing commitment to the emerging sector.
Mubadala also recently formed the Abu Dhabi Hydrogen Alliance, alongside ADNOC and ADQ, to build a substantial hydrogen economy for the UAE, and developing a roadmap to accelerate the country's adoption and use of hydrogen in major sectors such as utilities, mobility and industry.