Italian energy provider Snam is partnering with Dublin-based gas producer Linde to jointly develop clean hydrogen projects, Kallanish reports.

The two firms announced on Monday they will work in partnership on clean hydrogen projects and related infrastructure in Europe. Under the terms of the agreement, Snam and Linde will collaborate on projects that promote key technologies along the hydrogen value chain and develop opportunities for joint investments in commercial projects in the areas of production, distribution, compression and storage. 

Snam states that the partnership is one of a series of hydrogen collaborations it is undertaking in Europe as part of the development of hydrogen’s value chain, as well as fostering its uses in both industry and transport sectors.

“With this agreement, we combine the know-how and innovative capabilities of both Linde and Snam in order to contribute to scaling-up hydrogen and reaching climate goals, aligned with the European Hydrogen Strategy,” said Marco Alverà, chief executive of Snam.

Both Snam and Linde are members of the Hydrogen Council, a consortium of global firms working to establish a hydrogen economy through long-term investments and development projects.

Global annual investments in green hydrogen development are estimated to surpass $1 billion by 2023, boosting production and reducing costs, according to research by IHS Markit released in November.

On Tuesday, Snam and other six companies announced the creation of a green hydrogen initiative targeting to reduce clean hydrogen costs by 50%, to less than $2 per kilogram by 2026. The group says this can be achieved through scaling up and investments of around $110 billion (see related story).