Qatar Energy, previously Qatar Petroleum, and Shell have agreed to pursue collaborative investments in blue and green hydrogen projects in the UK. This is the first hydrogen agreement between the two companies. The deal was signed on the sidelines of the UK Global Investment Summit. The partners will seek integrated and scalable opportunities in key sectors where hydrogen could help decarbonize, such as industrial cluster development and the transport sector, with a particular focus on the London metropolitan area.
The joint venture between the two companies will invest in liquefied natural gas (LNG) marine fueling, bunkering vessels and other infrastructure in key locations to meet the needs of marine customers and help reduce emissions from the global shipping industry. These locations will leverage existing Qatar Petroleum and Shell supply positions and complement current Shell marine LNG bunkering locations in Europe, Asia and North America. As per the company’s statement, this agreement will reinforce the long-lasting and strategic partnership between Qatar Energy and Shell as well as 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 Qatar Energy.
Qatar is the world’s largest supplier of LNG and aims to expand production to 127 million tonnes annually by 2027 from 77 million tonnes currently. Also, Qatar Petroleum changed its name to Qatar Energy to signal a new strategy that focuses on energy efficiency and environmentally-friendly technology such as capturing and storing carbon dioxide.
