Italy and Saudi Arabia Sign Energy Cooperation Agreement to Bring Saudi-Made Hydrogen to Europe
Key Ideas
  • Italy and Saudi Arabia signed an agreement to enhance energy cooperation, with a focus on renewable energy and reducing emissions.
  • The memorandum of understanding includes the possibility of supplying Saudi-made hydrogen to Europe over a five-year period.
  • Italy could serve as a gateway for renewable hydrogen and ammonia from Saudi Arabia into Europe, offering a more competitive and strategic option.
  • The agreement also emphasizes collaboration on power interconnections and carbon capture and storage systems.
Italy and Saudi Arabia have signed a memorandum of understanding to strengthen energy cooperation, particularly in the field of renewable energy and emissions reduction. The agreement, lasting five years, was inked in Riyadh during a meeting between Italy's energy and environment minister Gilberto Pichetto Fratin and his Saudi counterpart Prince Abdulaziz bin Salman Al-Saud. The focus of the agreement includes renewable energy, methane emissions reduction, power interconnections, renewable and low-emission hydrogen and ammonia, as well as carbon capture and storage systems. Minister Pichetto Fratin highlighted Italy's potential role as a gateway for Saudi-produced renewable hydrogen and ammonia into Europe, citing proximity and competitiveness compared to other alternatives in the North Sea. This collaboration signifies a step towards diversifying energy sources and promoting cleaner energy solutions on a global scale.
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