Snam signed a memorandum of understanding today with State Grid International Development (SGID), wholly-owned by State Grid Corporation of China, the world’s largest energy utility, to examine a range of possible opportunities for collaboration, both in China and internationally, with a focus on the use of new technologies to reduce CO2 emissions.
The memorandum was signed today at the Italian Embassy in Beijing, as part of the Ministry of Economy and Finance’s mission in China and in the presence of minister Giovanni Tria and of the CEO of Cassa depositi e prestiti Fabrizio Palermo, by Marco Alverà, Snam CEO, and Hu Yuhai, Chairman of SGID.
Among the initiatives being explored are:
- the potential construction of biogas and biomethane plants for renewable electricity production in rural areas of China: Snam would contribute by sharing its know-how in the field;
- possible partnership opportunities in research and development on renewable gas, sustainable mobility and joint electricity-gas projects.
As part of the agreement, the companies will also look at the possibility of collaborating on the maintenance and optimization of both the transportation network and natural gas storage sites in two other countries in which SGID operates, Australia and Portugal.
“This initiative – comments Snam CEO Marco Alverà – confirms Snam’s and Italy’s leadership in the energy sector, particularly in the development of new renewable sources such as biomethane and in innovation in the field of environmental sustainability. We are very happy to work with a leading company like SGID. Snam is ready to make available its experience, its expertise and its people to make a contribution to China’s energy transition, which is aiming decisively towards greater environmental sustainability by increasing the share of gas in its energy mix”.