Mubadala, Italy’s Snam sign pact to invest in hydrogen development

Mubadala, Italy’s Snam sign pact to invest in hydrogen development

The signing with Snam is an extension of Mubadala's joint efforts to develop a hydrogen economy for the UAE.



Mubadala Investment Company (Mubadala) and Italy's Snam, one of the world's leading energy infrastructure operators, have signed on Monday a Memorandum of Understanding to collaborate on joint investment and development initiatives on hydrogen.

As part of the agreement, the two companies will carry out a number of assessment activities, including technical and economic feasibility studies to explore potential projects and solutions to foster and promote hydrogen development in the UAE, and elsewhere globally.

The MoU was signed by Musabbeh Al Kaabi, Chief Executive Officer of UAE Investments at Mubadala Investment Company (Mubadala), and Marco Alvera', Chief Executive Officer at Snam.

Commenting on the importance of the MoU, Musabbeh Al Kaabi, CEO of UAE Investments, Mubadala, said, “As a responsible investor and an active player in the global energy transition, Mubadala