Shell and QatarEnergy, formerly Qatar Petroleum, and have signed an agreement to pursue joint investments in blue and green hydrogen projects in the UK, QatarEnergy said on Oct. 19.
The partners will target integrated and scalable opportunities in key sectors where hydrogen could help decarbonize, especially around industrial cluster development and also for the transport sector, with a focus on the London metropolitan area. The collaboration will exploit both companies’ expertise in delivering large and technically complex energy projects.
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 LNG exporter. The company recently changed its name from Qatar Petroleum, signalIng 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.
Recommended Reading
Private Equity Looks for Minerals Exit
2024-07-26 - Private equity firms have become adroit at finding the best mineral and royalties acreage; the trick is to get public markets to pay more attention.
How Liberty Rolls: Making Electricity, Using NatGas to Fuel the Oilfield
2024-08-22 - Liberty Energy CEO Chris Wright said the company is investing in keeping its frac fleet steady as most competitors weather a downturn in oil and gas activity.
Patterson-UTI Boosts Bottom Line with OFS Acquisitions
2024-08-06 - Less than a year out from the closing of its merger with NexTier and its acquisition of Ulterra Drilling Technologies, Patterson-UTI is taking strides not to be the latest has-been.
Beetaloo Juice: US Shale Explores Down Under
2024-06-28 - Tamboran Resources has put together the largest shale-gas leasehold in Australia’s Beetaloo Basin, with plans for a 1.5+ Bcf/d play. Behind its move now to manufacturing mode are American geologists and E&P-builders, a longtime Australian wildcatter, a U.S. shale-rig operator and a U.S. shale pressure-pumper.
International OFS Firm HMH Plans to IPO, Activate in M&A
2024-08-13 - The firm is a 50/50 joint venture of Baker Hughes and Akastor ASA formed in 2021 to include brands such as Hydril and Vetco Gray as well as Wirth and Maritime Hydraulics.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.