Mubadala, ADNOC, and ADQ sign MoU
18 January 2021
Mubadala Investment Company (Mubadala), The Abu Dhabi National Oil Company (ADNOC), and ADQ have 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 also 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 H.E. Khaldoon Khalifa Al Mubarak, Managing Director and Group Chief Executive Officer of Mubadala Investment Company, H.E. Dr Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and ADNOC Group CEO, and H.E. Mohamed Hassan Alsuwaidi, Chief Executive Officer of ADQ.
Also, this Alliance will build on Abu Dhabi and the UAE’s global energy leadership and position as the center of gravity for energy innovation.
While it will 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.