Italian oilfield services company Saipem has signed a memorandum of understanding (MoU) with Italian energy infrastructure company Snam to jointly start working on new energy transition technologies.
Under the MoU, the two Italian firms will work on green hydrogen and carbon capture initiatives.
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The MoU is aimed at fighting climate change and tapping in to the emerging hydrogen market. It also allows the two firms to explore the possibility of participating in EU-funded technological innovation projects.
Snam CEO Marco Alverà said: “With this cooperation, we aim to strengthen our commitment and partnership network in the field of new energy transition technologies, especially green hydrogen and its use in existing infrastructure.
“Also through its dedicated business unit, Snam is deeply engaged in developing hydrogen and in contributing to the creation of an Italian value chain.”
Saipem and Snam have already started the joint development of water electrolysis technologies, a process that helps reduce carbon dioxide emissions to zero in the production of green hydrogen.
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By GlobalDataUnder the partnership, the companies will begin exploring new ways to transport hydrogen in liquid and gaseous form by using existing infrastructure.
Saipem CEO Stefano Cao said: “The agreement we have signed with Snam, with whom we have established a long-standing and productive relationship, is part of our strategy to make Saipem become a global provider of solutions for the energy and infrastructure sector.
“Therefore, it is consistent with the decarbonisation process that we are committed to pursuing in all our activities, as we strive to be leading players 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.”
In November 2017, Snam and Saipem signed a MoU to evaluate cooperation opportunities in gas infrastructure projects.
