Abu Dhabi National Oil Company (ADNOC) announced in a statement that it has signed an agreement with GS Energy to explore opportunities to grow Abu Dhabi’s hydrogen economy and carrier fuel export position.
Agreement reached during the UAE’s virtual business trip to Republic of Korea where UAE Minster of Industry and Advanced Technology met with business leaders and Republic of Korea Minister of Trade, Industry and Energy.
As part of the agreement, Companies agree to collaborate on potential development of new value chains for blue hydrogen and carrier fuels, such as blue ammonia, in Abu Dhabi.
“We look forward to building upon these successes as we seek to expand our existing relationship with GS Energy, identifying possible areas of investment in Abu Dhabi’s emerging blue hydrogen ecosystem as well as the Emirate’s world-scale refining and petrochemicals assets in Ruwais.” statement said
The UAE virtual business trip is aimed at expanding bilateral economic and trade relations between both countries as they drive economic growth in the wake of the COVID-19 pandemic.
The trip included presentations from representatives of the UAE Ministry of Industry and Advanced Technology, Masdar, Mohammed Bin Zayed University for Artificial Intelligence (MBZUAI) and executives from ADNOC’s directorates.
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