Mubadala Investment Company , The Abu Dhabi National Oil Company (ADNOC), and ADQ today announced the signing of a Memorandum of Understanding (MoU) to establish the Abu Dhabi Hydrogen Alliance. The purpose of Alliance is to position Abu Dhabi as a reliable and secure supplier of green and blue hydrogen.
“ADQ looks forward to working with ADNOC and Mubadala in defining the agenda for the Alliance. The scale of resources and experience each company brings to the new Alliance positions Abu Dhabi for accelerated growth in the hydrogen energy field, ultimately supporting the realization of the UAE’s decarbonization objectives.”-commented H.E. Mohamed Hassan Alsuwaidi, CEO of ADQ.
Mubadala, ADQ and ADNOC are working on Abu Dhabi’s acceleration of hydrogen leadership as they are already invested in hydrogen production and clean energy. ADNOC already produces hydrogen for its downstream operations, Mubadala will contribute through Masdar, best known for Masdar City, and its extensive network of international technology and investment partners and other relationships.
ADQ will bring together its portfolio companies across the energy value chain, with companies such as Abu Dhabi Ports, Abu Dhabi Airports, Etihad Rail, Emirates Steel, Abu Dhabi National Energy Company (TAQA) and Emirates Nuclear Energy Corporation (ENEC), to facilitate activities undertaken by the Alliance.
“…with the renewables expertise and experience of Masdar, we are well placed to develop leadership in the green hydrogen value chain.”-said Khaldoon Khalifa Al Mubarak, Managing Director and Group CEO of Mubadala Investment Company.
This MoU comes only 2 months after Sheikh Mohamed bin Zayed, the Crown Prince of Abu Dhabi, directed ADNOC to explore opportunities in hydrogen, with the ambition to position the UAE as a world leader in hydrogen production.
But not just Abu Dhabi, Saudi Arabia also aims to become a leader in hydrogen production and export. According to Energy Minister Prince Abdulaziz bin Salman, SA has “ambitious” plans and “will not be challenged in its record of being the biggest exporter of hydrogen on earth.”