UAE and Austria sign pact to deepen partnership in hydrogen technology development
The UAE and Austria on Monday signed a preliminary agreement to boost collaboration in the hydrogen technology industry.
The agreement, signed by the UAE Federal Ministry of Industry and Advanced Technology (MoIAT) and the Austrian Federal Ministry of Finance, will help drive growth in their respective countries in priority sectors such as energy , said the MoIAT.
This collaboration comes after a comprehensive strategic partnership signed by the two countries last July to strengthen the collaboration.
The move aims to “establish a comprehensive collaboration in the field of hydrogen technology, which will build on each party’s strengths and contribute to the UAE’s position as the world’s leading energy producer”, said Dr. Sultan Al Jaber, Minister of Industry and Advanced Technologies and Managing Director and Managing Director of Adnoc Group.
“The agreement is also in line with the UAE’s commitment to net zero emissions by 2050 through the deployment and use of clean energy solutions.”
The UAE and other countries in the Middle East and North Africa region are pursuing plans to integrate hydrogen into their energy mix and harness this clean fuel for different industrial applications.
Last year, Adnoc, Mubadala Investment Company and Abu Dhabi holding company ADQ formed an alliance to develop a global hydrogen hub.
Austrian group SAN announced last month that it would invest 12 million dirhams ($3.3 million) to build a green hydrogen and agriculture subsidiary in the Ras Al Khaimah economic zone, with the center to be fully operational by the end of this year.
The UAE is also looking to export hydrogen as demand increases as part of the energy transition. It aims to capture 25% of the global hydrogen market share.
The UAE-Austria partnership will develop a joint roadmap to support accelerating the use of hydrogen in sectors such as utilities, mobility and industry through their respective operating companies, according to a press release.
“Our common goal is to meet growing global energy demand while reducing carbon emissions. The United Arab Emirates offers ideal conditions for the production of green hydrogen, while Austria has decades of experience in gas transport and storage as well as the required infrastructure,” said Elisabeth Koestinger, Federal Minister Austrian Ministry of Agriculture, Regions and Tourism.
This decision aims to strengthen collaboration across the entire hydrogen ecosystem, including the production, storage, conversion, transport, trade, conversion and use of clean hydrogen, as well as as manufacturing and services along the value chain, and joint research and development activities, the statement said. noted.
This agreement will help strengthen the UAE’s position among the world’s leading industrial countries and “help build a sustainable and diversified economy that will make the UAE an international model for sustainable economic development”, Dr. Al Jaber said.
“To achieve this, we need to focus on improving investment incentives, resource accessibility and strong infrastructure.”
Updated: March 07, 2022, 4:52 p.m.