Masdar will help develop a green hydrogen supply chain between Abu Dhabi and the Netherlands as part of a memorandum of understanding signed with Dutch companies on the sidelines of COP28.
The Abu Dhabi-based world’s leading clean energy company will join hands with the Port of Amsterdam, SkyNRG, Evos Amsterdam and Zenith Energy Terminals. It will explore the development of a green hydrogen supply chain to support Dutch and European markets.
The agreement was signed in the presence of Dr Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology, COP28 President-Designate, and Chairman of Masdar, and Wopke Hoekstra, Minister of Foreign Affairs for the Netherlands.
Dr Al Jaber commented: “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 for green hydrogen development.”
Minister Hoekstra added: “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 and we look forward to further intensifying the cooperation between our two countries.”
Under the MoU, green hydrogen produced in Abu Dhabi will be exported to the Netherlands through the Port of Amsterdam and delivered to key European sectors – sustainable aviation fuel (SAF), steelmaking, and bunkering for shipping – and will also be supplied to new, emerging European offtakers, via pipeline, truck and barge.
The parties will explore several hydrogen transportation methods, with a focus on liquid organic hydrogen carriers and liquid hydrogen.
Port of Amsterdam, the operator of Europe’s fourth-largest port, is committed to scaling up green hydrogen capabilities and is working closely with commercial parties such as SkyNRG, a global leader in SAF, and Zenith Energy Terminals and Evos Amsterdam that are operators of some of the most prominent blending and storage terminals in the port.
Masdar’s Ambitious Green Hydrogen Plans
Last December, Masdar announced its new shareholding structure and green hydrogen business unit, with a goal of achieving 100 GW renewable energy capacity and green hydrogen production of 1 million tonnes per annum annually by 2030.
Mohammed Jameel Al Ramahi, Chief Executive Officer of Masdar, 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 Terminals 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 with green electricity from renewables like wind or solar, in a process that separates water into oxygen and hydrogen via electrolysis. 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 decarbonising 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 tonnes per year.
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