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Abu Dhabi’s government-run oil company is teaming up with two of its sovereign wealth funds to turn the petroleum-rich emirate into an exporter of blue and green hydrogen.

Abu Dhabi National Oil Co. formed an alliance with Mubadala Investment Co. and ADQ to produce hydrogen from natural gas and renewable energy and to market the fuel overseas as well as in the United Arab Emirates, ADQ said in a statement.

In a related deal, Abu Dhabi Future Energy Co., also known as Masdar, agreed with Siemens Energy AG to develop a facility to make green hydrogen at Masdar City in Abu Dhabi, Mubadala said in a statement. Munich-based Siemens Energy is already building a hydrogen demonstration plant at the Mohammed bin Rashid Al Maktoum Solar Park in the neighboring emirate of Dubai. Read More…