Snam and Saipem have signed a Memorandum of Understanding to start working together on new energy transition technologies, from green hydrogen to capturing and reusing CO2, to fight climate change and contribute to the launch of the hydrogen market, supporting the European Commission’s Hydrogen Strategy.
The aim of this agreement, signed by Marco Alverà, CEO of Snam, and Stefano Cao, CEO of Saipem, is to jointly define and develop initiatives for green hydrogen production and transport, and carbon dioxide capture, transport, and reuse or storage (CCS and CCU).
Snam and Saipem have already started working together, focusing in particular 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, thus effectively fighting global warming.
This agreement also involves a collaborative effort to develop feasibility studies 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.
With this Memorandum of Understanding, Saipem and Snam also explore the possibility of participating in EU-funded technological innovation projects.
The agreement 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.