Mubadala Investment Company (Mubadala), The Abu Dhabi National Oil Company (ADNOC) and ADQ have signed a MoU to establish the Abu Dhabi Hydrogen Alliance (the Alliance)
Under the terms of the agreement, the Alliance will 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, with the aim of positioning Abu Dhabi as a reliable and secure supplier of hydrogen and its carriers to customers around the world as demand grows.
Commenting on the importance of the Alliance, Khaldoon Khalifa Al Mubarak, managing director and group CEO of Mubadala Investment Company, said, ?As a responsible investor, we are actively engaged in a number of new energy investments that will contribute to more efficient and lower emission energy solutions. 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.
Dr Sultan Ahmed Al Jaber, UAE minister of industry and advanced technology and ADNOC Group CEO, added, ?I am pleased that we are coming together as ADNOC, Mubadala and ADQ on this important initiative to explore and develop the potential of hydrogen as a new, low carbon fuel.
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.
Mohamed Hassan Alsuwaidi, CEO of ADQ, commented, ?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. With Abu Dhabi?s largest portfolio of energy and utilities investments, ADQ will play an important role in the transition to cleaner energy while shaping the future of this economic cluster leading to Abu Dhabi?s longer-term sustainability.?
The development of a local hydrogen economy is a natural proposition for the UAE. Its strong track record and industrial capacity across the energy value chain, coupled with its geographic location advantages, and growing local and export demand, mean that the country is uniquely positioned to establish a clean hydrogen economy.
