Saudi company ACWA Power and Italy’s energy infrastructure operator Snam have formed an alliance to explore collaboration opportunities and joint investments in establishing a green hydrogen supply chain from Saudi Arabia to Europe. The companies have signed a memorandum of understanding (MoU) to look into potential investments for creating an international supply chain between Saudi Arabia and Europe, focusing on making it dependable and cost-effective. Additionally, they plan to assess the development of an ammonia import terminal in Italy to ease the delivery of green hydrogen through the South H2 Corridor, which reaches central Europe through Italy, Austria, and Germany. This initiative is part of the European Hydrogen Backbone. The CEOs of ACWA Power and Snam expressed their enthusiasm for driving advancements in the green hydrogen sector. The collaboration aims to support the EU's decarbonization targets by utilizing hydrogen and other technologies efficiently. ACWA Power also signed agreements with various Italian institutions and companies during the visit of the Italian Prime Minister to Saudi Arabia, indicating a broader collaboration scope that includes project financing, technology transfer, and support for development in regions like Africa, Central Asia, and the Far East. The partnership between ACWA Power and Snam is expected to strengthen EU-MENA cooperation in green energy, reinforcing the Saudi company's position as a significant player in the global energy transition. Besides, ACWA Power is exploring a green hydrogen export corridor in Europe in collaboration with other entities like GasLog, Zenith Energy Terminals, and the Port of Amsterdam, showcasing its commitment to sustainable energy practices.