Snam Moving Decisively Into the Hydrogen Market Abroad
Snam, the Italian gas group and Europe’s biggest gas transport company, has signed a flurry of deals in India involving hydrogen and low carbon mobility projects. To this end, Snam said that it has set up a partnership with India’s Adani to develop a hydrogen business in India and abroad and use biogas for low-carbon transport projects.
The company has also signed an agreement with Greenko, one of the largest renewable companies in the country, to cooperate in supporting the development of the hydrogen value chain in India. Through the agreement, the two companies will be able to collaborate on the study of hydrogen production methods from renewables, on the design of hydrogen-ready infrastructure and on potential final applications in both industry and transport, including fuel cell mobility.
In addition, the group reached an agreement with state-owned Indian Oil to work on energy transition projects, including gas storage and regasification.
Marco Alverà, Snam CEO, commented: “The entry into the Indian market is a new milestone in our internationalization path. Thanks to the partnerships with some of India’s leading players, leveraging our know-how and technologies, we have the opportunity to bring a valuable contribution to a country that is strongly committed to the energy transition and which presents many opportunities. These agreements aim at promoting the growth of green hydrogen in India and other countries to help decarbonize industry and transport and at further developing natural gas and hydrogen mobility in a huge market”.
Snam, which makes most of its revenue from gas transport in Italy, has pledged to spend more on new green business lines to help it position itself for the industry-wide transition to cleaner energy.