https://arab.news/ctsnm
- Product will be directed to key European sectors via continent’s fourth-largest port
- Agreement reflects countries’ commitment to exploring energy solutions, says UAE minister
ABU DHABI: Renewable energy firm Masdar of Abu Dhabi has signed a memorandum of understanding with the Port of Amsterdam, SkyNRG, Evos, and Zenith Energy that aims to develop a green hydrogen supply chain between the UAE and the capital of the Netherlands, the Emirates News Agency reported on Sunday.
The parties are to work together to establish the chain, with production in Abu Dhabi and exports via the Port of Amsterdam, which is Europe’s fourth largest.
The exported green hydrogen will be directed to key European sectors such as sustainable aviation fuel, steelmaking, and shipping.
The parties will also examine various hydrogen transportation methods, with a particular emphasis on liquid organic carriers and liquid hydrogen.
The agreement was signed by Masdar CEO Mohamed Jameel Al Ramahi; Port of Amsterdam Managing Director Gert-Jan Nieuwenhuizen; SkyNRG Chief Development Officer Maarten van Dijk; Evos Business Development Manager Bart van der Meer; and Zenith Energy Managing Director Ellen Ruhotas.
This deal was completed in the presence of UAE Minister of Industry and Advanced Technology Sultan bin Ahmed Al-Jaber, and Dutch Minister of Foreign Affairs Wopke Hoekstra.
Al-Jaber said: “This agreement builds upon the existing relationship between the UAE and the Netherlands, and demonstrates our mutual commitment to exploring low and zero-carbon energy solutions.
“The UAE aims to play a central role in the emerging green hydrogen economy, and this partnership with the Port of Amsterdam and associated players in the green hydrogen space would help position Abu Dhabi as a key hub.”
Al Ramahi said: “Masdar believes green hydrogen to be a promising energy source for ‘hard-to-abate’ sectors in support of global decarbonisation, which is why we launched our dedicated green hydrogen business last month.
“We are pleased to partner with Port of Amsterdam, SkyNRG, Evos Amsterdam, and Zenith Energy to leverage our synergies in the fuel and logistics sectors to see how green hydrogen can help us achieve our shared goals for decarbonisation and sustainable economic growth.”
Green hydrogen is produced by splitting water by electrolysis, producing oxygen and hydrogen.
Hydrogen will be an essential component of a net-zero energy system and will play an important role in decarbonizing sectors that are difficult to electrify, such as heavy industry and long-distance transportation, according to the International Renewable Energy Agency.
The global green hydrogen market is expected to reach $72 billion by 2030, while PricewaterhouseCoopers has estimated that hydrogen demand is expected to range between 150 million and 500 million tons per year by 2050.
Masdar announced its new shareholding structure and green hydrogen business unit in December, with the goal of achieving production of 1 million tons annually by 2030.
It signed several agreements in the same month with leading Egyptian state-backed organizations to cooperate in the development of green hydrogen production plants in the country, targeting an annual output of up to 480,000 tons.