Mubadala Investment Company (Mubadala) and Snam today (22nd March) unveiled a new partnership to foster and promote hydrogen development in the UAE.
The companies have signed a Memorandum of Understanding (MoU) for the efforts that will include a number of assessment activities, including technical and economic feasibility studies to explore potential projects and solutions.
At the signing Marco Alvera, CEO at Snam, said, “This agreement shows Snam’s commitment to accelerate the energy transition and the development of green gases, more specifically, at global level by applying our skills and technologies to enhance the competitiveness of this key solution for the climate challenge.”
“At the same time, Snam is further strengthening its presence in the UAE and in the Gulf area, which we consider strategic because of their crucial role in the energy transition. We will work closely with Mubadala leveraging our mutual know-how and investment capabilities in order to identify projects of common interest in the UAE and contribute to the development of a hydrogen-fuelled economy.”
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