Shell has signed an agreement to work on blue and green hydrogen in the UK with QatarEnergy.
The two companies signed the deal on the sidelines of the UK Global Investment Summit.
Shell CEO Ben Van Beurden said the agreement deepened the company’s “already strong relationship with QatarEnergy. Hydrogen will play an important role in helping society reach net zero and 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.”
The statement said QatarEnergy and Shell would focus on areas such as industrial cluster development and transportation, with a focus on London.
Qatari Minister of State for Energy, and the head of QatarEnergy, Saad Sherida Al-Kaabi, said the deal would create a “viable path for innovation and investments in low carbon fuels and technologies across the UK’s energy sector, a key area of investment for QatarEnergy.
“This agreement also builds on QatarEnergy’s commitment to provide reliable access to cleaner energy globally.”
The Qatari company signed up 40% of the Isle of Grain LNG’s capacity last year, for a deal that will run from 2025 to 2050. Qatar has also just begun construction of a major LNG expansion.
On the map
Prime Minister Boris Johnson said the UK had secured £9.7 billion of investment at the summit, this morning. These cover 18 trade and investment deals, creating an estimated 30,000 jobs in the UK.
The Department for International Trade is launching an Investment Atlas, in order to showcase UK opportunities for international investors. The Atlas will highlight 53 opportunities in the UK, each tied in to the 10-point plan.
Another hydrogen deal was struck between Budweiser Brewing and Protium, for a green hydrogen project in South Wales. Fuel cell developer HyPoint also announced it was investing £6.6mn to develop a hydrogen system, creating 10 jobs.