Saipem has signed a Memorandum of Understanding with a leading energy infrastructure operator to start working together on new energy transition technologies.
The Italian oil and gas contractor has teamed up with compatriot Snam to develop a range of new initiatives, from green hydrogen to carbon capture and storage (CCS), with the aim of fighting climate change and tapping in to the emerging hydrogen market.
The agreement also allows the two firms to explore the possibility of participating in EU-funded technological innovation projects.
Saipen and Snam have already begun working together to develop water electrolysis technologies, a process that makes it possible to reduce carbon dioxide (CO2) emissions to zero in the production of green hydrogen.
Under the new partnership, both firms will now begin exploring news ways to transport hydrogen in both liquid and gaseous form by using and adapting existing infrastructure and networks.
Marco Alverà, chief executive of Snam, 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. Because of its geographical location, the natural resources available to produce renewable energy and the strength of its manufacturing sector, our country can become a European and Mediterranean hydrogen hub, thus making a significant contribution to the fight against climate change as well as creating new opportunities for development and employment”.
Stefano Cao, chief executive of Saipem, added: “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. Over the next few years, hydrogen will become a commodity which, together with LNG, will shape the energy transition process: Saipem is currently concentrating on both blue hydrogen production technologies, using energy from fossil fuels, and green hydrogen from renewable sources, also drawing on the experience gained from several projects implemented worldwide throughout the Carbon Capture & Storage chain”.