QatarEnergy, formerly Qatar Petroleum, and Shell have agreed to pursue joint investments in blue and green hydrogen projects in the UK to help decarbonise industrial clusters and transport sectors, with a focus on the London metropolitan area.
This is the first agreement on hydrogen between both companies. The deal was signed on the sidelines of the UK Global Investment Summit.
Saad Sherida Al-Kaabi, the minister of state for energy affairs, president and CEO of QatarEnergy, said: “The agreement creates a viable path for innovation and investments in low carbon fuels and technologies across the UK’s energy sector.”
Ben Van Beurden, CEO of Shell, said he believes hydrogen will play an important role in helping society reach net zero and that 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,” he added.
QatarEnergy is the world’s largest liquefied natural gas (LNG) exporter. The company recently changed its name from Qatar Petroleum, signalling a new strategy focused on energy efficiency and environmentally-friendly technologies. Shell has been looking to diversify its energy portfolio, which also includes hydrogen. The Anglo-Dutch supermajor has signed up for several projects to develop large-scale hydrogen production, including its green hydrogen plant in Rotterdam, expected to be completed in 2023.