Qatar’s state-owned oil and gas company QatarEnergy and energy major Shell have signed an agreement for joint investments in blue and green hydrogen projects in the UK.
The energy giants will join forces to pursue investments in hydrogen solutions.
They signed the collaboration agreement on the sidelines of the UK government’s Global Investment Summit. It was hosted by the Queen and the Prime Minister.
The partners will target integrated and scalable opportunities in key sectors where hydrogen could help decarbonize. This is especially the case with industrial cluster development and also concerns the transport sector.
The collaboration is to feed on both parties’ expertise in delivering large and complex energy projects.
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In focus: Energy transition reels in more oil & gas majors as coal power producer enters offshore renewables market Business Developments & Projects Saad Sherida Al-Kaabi , CEO of QatarEnergy, said, “This agreement does not only reinforce the long-lasting and strategic partnership between QatarEnergy and Shell but also creates a viable path for innovation and investments in low carbon fuels and technologies across the UK’s energy sector, a key area of investment for QatarEnergy. This agreement also builds on QatarEnergy’s commitment to provide reliable access to cleaner energy globally.”
Ben Van Beurden , CEO of Royal Dutch Shell , added: “Hydrogen will play an important role in helping society reach net zero, and momentum is growing. QatarEnergy’s expertise, in collaboration with Shell’s, will support the UK’s energy transition and help propel this fast-growing sector.”
In addition, this is the first agreement on hydrogen between QatarEnergy and Shell.