ACWA Power has signed an MoU with Snam, a European energy infrastructure operator, to explore collaborative investments in establishing a green hydrogen supply chain from Saudi Arabia to Europe.
Snam, focused on developing a pan-European multi-molecule energy infrastructure to advance energy security and Net Zero goals, joins forces with ACWA Power, which operates green hydrogen and ammonia production facilities in Saudi Arabia. Together, they aim to create an international supply chain for cost-effective and reliable green hydrogen exports.
The partnership includes evaluating the development of an ammonia import terminal in Italy, facilitating the delivery of green hydrogen to Europe through the 3,300 km South H2 Corridor, connecting Italy, Austria, and Germany, thereby strengthening Europe’s green energy transition.
Marco Arcelli, CEO of ACWA Power, said, “We are excited to join forces with Snam to drive significant advancements in the green hydrogen sector. With power sector emissions already down 40% compared to 20 years ago, we now need to focus our collective efforts on new, low carbon molecules to decarbonise our sectors. Bringing our expertise together will help accelerate this process.”
Stefano Venier,CEO of Snam, said, “The EU’s ambitious decarbonisation targets need decisive action across all manufacturing sectors, utilising all available technologies in a practical, efficient and accelerated manner. Hydrogen plays a key-role here, and we are glad to pursue development opportunities in this field also through agreements like the one we signed with ACWA Power: the development of the ammonia import terminal is synergic with that of the South H2 Corridor.”
ACWA Power and Snam explore hydrogen supply chain to Europe
Together, they aim to create an international supply chain for cost-effective and reliable green hydrogen exports.
