- Press Releases
October 20 (Renewables Now) - Royal Dutch Shell Plc (AMS:RDSA) and state-owned QatarEnergy, known until recently as Qatar Petroleum, have agreed to make joint investments in the development of blue and green hydrogen projects in the UK with a focus on the industrial and transport sectors.
The scope of the partnership, the first one between the two companies in the area of hydrogen, includes integrated and scalable opportunities that would advance decarbonisation primarily in the London metropolitan area, QatarEnergy said on Tuesday.
The cooperation was agreed on the sidelines of the UK Global Investment Summit that took place on October 19 and attracted pledges for a total of GBP 9.7 billion (USD 13.41bn/EUR 11.51bn) of new foreign investment meant to support the UK on its path to achieving net-zero carbon emissions by 2050.
For QatarEnergy, which earlier in October changed its name from Qatar Petroleum in line with its refocusing on more environmentally friendly energy, the partnership with Shell "creates 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", said chief executive and Qatar's Minister of Energy Affairs Saad Sherida Al-Kaabi.
(GBP 1 = USD 1.383/EUR 1.187)