ACWA Power and Snam Collaborate on Green Hydrogen Supply Chain to Europe
Key Ideas
- ACWA Power and Snam signed an MoU to establish a supply chain of green hydrogen from Saudi Arabia to Europe.
- The collaboration aims at developing an international supply chain for green hydrogen and evaluating an ammonia import terminal in Italy.
- Both companies expressed enthusiasm for driving advancements in green hydrogen to accelerate the energy transition process.
- Snam highlighted the importance of hydrogen in achieving the EU's decarbonization targets and sees the partnership as synergic with the development of the South H2 Corridor.
ACWA Power, a leading Saudi company in water desalination and green hydrogen, has partnered with Snam, a major European natural gas operator, to explore the supply chain of green hydrogen from Saudi Arabia to Europe. The collaboration includes joint investments to establish a reliable supply of green hydrogen and assess the development of an ammonia import terminal in Italy. ACWA Power and Snam aim to contribute to energy security and the transition to Net Zero by leveraging their expertise in green hydrogen and ammonia production. This partnership aligns with the EU's decarbonization goals, with both CEOs emphasizing the significance of hydrogen in driving the energy transition. ACWA Power's CEO highlighted the need for low carbon molecules, while Snam's CEO stressed the importance of utilizing available technologies efficiently. The agreement reflects a shared commitment to advancing green hydrogen infrastructure and accelerating the decarbonization process in Europe.
Topics
Europe
Middle East
Infrastructure
Energy Security
Investment
Energy Transition
Partnership
Supply Chain
Green Ammonia
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