UAE-based leading clean energy company Masdar, Port of Amsterdam, SkyNRG, Evos Amsterdam, and Zenith Energy have signed a memorandum of understanding (MoU) to explore the development of a green hydrogen supply chain between Abu Dhabi and Amsterdam to support Dutch and European markets.
Under this MoU, the parties will join their efforts to develop a green hydrogen supply chain, focusing on production in Abu Dhabi and export to the Netherlands through the port of Amsterdam.
The exported green hydrogen will be delivered to key European sectors, sustainable aviation fuel (SAF), steelmaking, and bunkering for shipping and it will also be supplied to new, emerging European off-takers, via pipeline, truck, and barge.
Green hydrogen is produced with green electricity from renewables like wind or solar, in a process that separates water into oxygen and hydrogen via electrolysis.
“Masdar believes green hydrogen to be a promising energy source for hard-to-abate sectors in support of global decarbonization, 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 decarbonization and sustainable economic growth.”
The International Renewable Energy Agency has stated that hydrogen will be an essential component of a net-zero energy system and has a key role to play in decarbonizing sectors that are difficult to electrify, such as heavy industry and long-haul transport.
The global green hydrogen market is projected to reach $72 billion by 2030, while PricewaterhouseCoopers (PWC) has estimated that by 2050 hydrogen demand could be between 150 to 500 million metric tons per year.
HE Dr. Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology, COP28 President-Designate, and Chairman of Masdar, said that “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 Netherlands is keen on developing green hydrogen corridors with major future exporting countries like the UAE. Our country is well-positioned to become a hydrogen hub for the Northwestern European market. I welcome the collaboration between Dutch and UAE businesses in the field of hydrogen and look forward to further intensifying the cooperation between our two countries,” commented Mr. Wopke Hoekstra, Minister of Foreign Affairs for the Netherlands.
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