Snam Enters Indian Market; Tiesup with Adani, Greenko, IOCL for Hydrogen, Gas, Green Mobility

In a major move Italian energy infrastructure company Snam has entered into the Indian market by signing deals with some major national companies like Adani, Indian Oil and Greenko in the field of energy transition, particularly in hydrogen, green gases and low-carbon mobility.

These agreements have been announced within the framework of the virtual summit between the Prime Ministers of India, Narendra Modi, and of Italy, Giuseppe Conte.

In line with this Snam has partnered with Adani for exploration of hydrogen value chain in India and internationally, as well as the development of biogas and biomethane, and of low-carbon mobility.

Moreover, the Italian firm has signed a non-binding agreement with Adani Gas Ltd to create a jointly controlled Joint Venture for setting-up of a compressor-manufacturing facility in India, relying on the technology of Cubogas, a Snam4Mobility company.

These compressors will be installed in existing refuelling stations and in those under development. This would help in promoting the development of refuelling infrastructure for sustainable mobility and fostering the use of natural gas.

Additionally, Snam has also entered into an agreement with Greenko to cooperate in supporting the development of the hydrogen value chain in India. Through the agreement, the two companies will be able to collaborate on the study of hydrogen production methods from renewables, on the design of hydrogen-ready infrastructure and on potential final applications in both industry and transport, including fuel cell mobility.

Besides, Snam has also signed a Memorandum of Understanding (MoU) with Indian Oil Corporation Ltd (IOCL) for possible joint initiatives in the energy transition and in the natural gas infrastructure value chain, particularly for storage and regasification.

Commenting on the India entry, Snam, CEO, Marco Alverà, said “the entry into the Indian market is a new milestone in our internationalization path. Thanks to the partnerships with some of India’s leading players, leveraging our know-how and technologies, we have the opportunity to bring a valuable contribution to a country that is strongly committed to the energy transition and which presents many opportunities.”

Alverà further added that, “these agreements aim at promoting the growth of green hydrogen in India and other countries to help decarbonize industry and transport and at further developing natural gas and hydrogen mobility in a huge market.”

However, the current agreements may be subject to subsequent binding agreements between the parties, through which the terms and conditions for implementing the cooperation and projects will be defined.