Mubadala, Adnoc and ADQ form ‘Abu Dhabi Hydrogen Alliance’

ABU DHABI / WAM

Mubadala Investment Company (Mubadala), The Abu Dhabi National Oil Company (Adnoc), and ADQ, on Sunday announced the signing of a Memorandum of Understanding (MoU) to establish the Abu Dhabi Hydrogen Alliance (the Alliance). The Alliance partners will collaborate to establish Abu Dhabi as a trusted leader of low-carbon green and blue hydrogen in emerging international markets. They will work together to build a substantial green hydrogen economy in the UAE.
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, to position Abu Dhabi as a reliable and secure supplier of hydrogen and its carriers to customers around the world as demand grows.
During a virtual ceremony, the MoU was signed by Dr Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and Adnoc Group CEO, Khaldoon Khalifa Al Mubarak, Managing Director and Group CEO of Mubadala Investment Company, and Mohamed Hassan Alsuwaidi, CEO of ADQ.
Commenting on the importance of the Alliance, Dr Al Jaber said, “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.”
“This Alliance integrates our complementary strengths as industrial, energy and financial leaders to address the global challenge of meeting energy demand, while reducing emissions.
“In addition, this alliance will build on Abu Dhabi and the UAE’s global energy leadership and position as the centre of gravity for energy innovation.”
He added, “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.
“Working together as an alliance, we will identify viable international market opportunities, while we develop a roadmap to create hydrogen production sites in Abu Dhabi, and the UAE.”
Khaldoon Khalifa Al Mubarak 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.