Friday, February 26, 2021

New Abu Dhabi entity to accelerate UAE hydrogen economy drive

Abu Dhabi’s drive to build a substantial green hydrogen economy in the UAE received a major fillip with Mubadala Investment Company, the Abu Dhabi National Oil Company and ADQ announcing on Sunday the signing of a Memorandum of Understanding to establish the Abu Dhabi Hydrogen Alliance.

The Alliance partners will collaborate to establish Abu Dhabi as a trusted leader of low-carbon green and blue hydrogen in emerging international markets.

In a joint statement, the three companies said the Alliance would develop a roadmap to accelerate the UAE’s adoption and use of hydrogen in major sectors such as utilities, mobility and industry, through their respective operating companies and with international partners.

Mubadala, Adnoc and ADQ will also align on their approach to international markets, for projects developed under the Alliance, to position Abu Dhabi as a reliable and secure supplier of hydrogen and its carriers to customers around the world as demand grows.

The MoU was signed by Dr. Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and Adnoc Group CEO, Khaldoon Khalifa Al Mubarak, MD and group CEO of Mubadala Investment Company, and Mohamed Hassan Alsuwaidi, chief executive officer of ADQ, during a virtual ceremony.

“The Alliance integrates our complementary strengths as industrial, energy and financial leaders to address the global challenge of meeting energy demand, while reducing emissions,” said Al Jaber.

“In addition, this alliance will build on Abu Dhabi and the UAE’s global energy leadership and position as the centre of gravity for energy innovation.”

“While we explore green hydrogen opportunities through the Alliance, ADNOC will place special emphasis on pursuing blue hydrogen projects by expanding on its existing hydrogen capacity, leveraging its significant gas reserves and best-in-class infrastructure, as well as its extensive customer relationships to help advance the hydrogen industry, both domestically and internationally.

“Working together as an alliance, we will identify viable international market opportunities, while we develop a roadmap to create hydrogen production sites in Abu Dhabi, and the UAE,” said the minister.

Al Mubarak said hydrogen offers significant potential in this regard and with the renewables expertise and experience of Masdar, “we are well placed to develop leadership in the green hydrogen value chain.

“Our engagement with Adnoc and ADQ is an important step in the establishment of the UAE’s hydrogen economy, and to align on technology, investment, the development of the domestic market and our approach to international partners and off-takers.”

Alsuwaidi said forming the Abu Dhabi Hydrogen Alliance is an imperative that would deepen the hydrogen energy economy in the UAE allowing it to meet the rapidly growing global demand for hydrogen worldwide.

He said with Abu Dhabi’s largest portfolio of energy and utilities investments, ADQ would play an important role in the transition to cleaner energy while shaping the future of this economic cluster leading to Abu Dhabi longer-term sustainability.

“ADQ looks forward to working with Adnoc and Mubadala in defining the agenda for the Alliance. The scale of resources and experience each company brings to the new Alliance positions Abu Dhabi for accelerated growth in the hydrogen energy field, ultimately supporting the realization of the UAE’s decarbonization objectives,” said Alsuwaidi.

 

Copyright © 2021 Khaleej Times. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info).

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