Offshore energy services provider Saipem and gas grid operator Snam have signed an agreement to work together on energy transition technology.
Under the memorandum of understanding signed, the two Italian companies will jointly work on green hydrogen and carbon capture initiatives, "with the aim of fighting climate change and contributing to the launch of the hydrogen market, supporting the European Commission’s Hydrogen Strategy."
"The aim of this agreement [...] is to jointly define and develop initiatives for green hydrogen production and transport, and for carbon dioxide capture, transport and reuse or storage (CCS and CCU)," Saipem said.
The agreement was signed by Marco Alverà, CEO of Snam, and Stefano Cao, CEO of Saipem,
The two companies have already started joint work on developing the technology of water electrolysis, a process that makes it possible to reduce CO2 emissions to zero in the production of green hydrogen.
The agreement also involves a collaborative effort to develop feasibility studies in order to find new solutions to transport hydrogen in both liquid and gaseous form, by using and adapting existing infrastructure and networks as well as by shipping it by vessel, and to capture, transport, store or enhance CO2.
Marco Alverà, CEO of Snam, said:"Because of its geographical location, the natural resources available to produce renewable energy and the strength of its manufacturing sector, our country can become a European and Mediterranean hydrogen hub, thus making a significant contribution to the fight against climate change as well as creating new opportunities for development and employment”.
Stefano Cao, CEO of Saipem, said his company's aim is to become a global provider of solutions for the energy and infrastructure sector and become a leader in the process of transition to low-environmental-impact energies.
"To date, 70% of our order book in the engineering and construction (E&C) sector is not related to oil. Over the next few years, hydrogen will become a commodity which, together with LNG, will shape the energy transition process: Saipem is currently concentrating on both blue hydrogen production technologies, using energy from fossil fuels, and green hydrogen from renewable sources, also drawing on the experience gained from several projects implemented worldwide throughout the Carbon Capture & Storage chain”.
The agreement between Snam and Saipem will eventually be the subject of subsequent binding agreements that the parties will define in compliance with the applicable regulatory profiles, including those relating to transactions between related parties.
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