Italian gas company Snam has taken its first steps into India by signing a series of deals involving hydrogen and low-carbon mobility projects. They have agreed to set up a partnership with India’s Adani to develop a hydrogen business in India and abroad and use biogas for low-carbon transport projects. It also inked a deal with renewable energy company Greenko to look into the production of green hydrogen for use in industry and transport.
The group also reached an agreement with Indian Oil to work on energy transition projects, including gas storage and regasification.
Marco Alvera, CEO, Snam said “These agreements aim to promote the growth of green hydrogen in India and other countries to help decarbonize industry and transport and to further develop natural gas and hydrogen mobility in a huge market.”
The agreements were announced as part of a virtual summit on Friday between the Prime Ministers of Italy and India. Snam, which makes most of its revenue from gas transport in Italy, has pledged to spend more on new green business lines to help it position itself for the industry-wide transition to cleaner energy.
