ADNOC ready to explore hydrogen market in India
At a hydrogen roundtable, the Abu Dhabi National Oil Company (ADNOC) has demonstrated a strong interest in exploring the hydrogen market with India’s public and private sectors to support its demand for cleaner fuel.
Speaking during a session at a virtual Hydrogen Roundtable organized by The Energy Forum (TEF) in collaboration with the Federation of Indian Petroleum Industry (FIPI) and India’s Ministry of Petroleum and Natural Gas (MoPNG), UAE minister of industry and advanced technology and managing director and group CEO of ADNOC Dr. Sultan Ahmed Al Jaber reinforced the strong economic ties between the two countries.
Al Jaber said the UAE is well placed to capitalize on the potential of hydrogen as a zero-carbon fuel. The company is working with its partners to identify viable market opportunities.
ADNOC currently produces about 300,000 tonnes of hydrogen a year. Relaying on the company’s existing infrastructure and commercial-scale carbon capture utilization storage (CCUS) capabilities, ADNOC hopes to become a major player in the developing blue hydrogen market.
“Today, India is one of our biggest and most important trading partners, particularly in the field of energy. And as India’s demand for energy grows, we stand ready to help meet that demand by making the full portfolio of our products available to the Indian market. However, at the same time, we recognize that the world and India for that matter require more energy with fewer emissions. And as we collectively navigate the global energy transition, we believe hydrogen offers promise and potential as a genuinely zero-carbon fuel. Granted hydrogen is still in its infancy, it could be a game-changer and a real opportunity to accelerate the broader energy transition. An opportunity that ADNOC and the UAE are well placed to capitalize on,” said Al Jaber.
ADNOC is also exploring the potential of green hydrogen through the Abu Dhabi Hydrogen Alliance which was recently established by ADNOC, Mubadala and ADQ.
“Working together, we are identifying viable international market opportunities and developing a roadmap to create a hydrogen ecosystem to serve both the UAE and the global market. That said, we recognize that the key to developing the hydrogen economy of the future will be aligning supply and demand. This is where we are currently working with partners, customers, and other interested parties to build the value-chains required to seed the emerging hydrogen market,” explained Al Jaber.