Cepsa inks agreements for green hydrogen transport in Europe: Spanish oil company Cepsa — which is majority owned by UAE sovereign fund Mubadala — signed agreements with Norwegian ammonia producer and shipper Yara Clean Ammonia and Dutch energy network operator Gasunie to facilitate transportation of green hydrogen to Germany and neighboring European countries, Reuters reports.

The details: The agreement with Yara Clean Ammonia — a subsidiary of Yara International — will see the two parties establish a green hydrogen maritime corridor between the Spanish port of Algeciras, near Cepsa’s green hydrogen hub, and the Dutch port of Rotterdam, the newswire explains. The agreement with Gasunie will allow Cepsa access to its green hydrogen transport network in the Netherlands. Cepsa will also invest EUR 3 bn in its flagship green hydrogen project in Andalusia, which includes a EUR 1 bn green ammonia plant, the newswire notes.

About Cepsa: Cepsa is Europe’s largest privately-owned integrated energy company. The firm was fully owned by Mubadala before US-based multinational private equity and asset management company Carlyle Group bought a 37% stake in October 2019, according to a statement (pdf) published at the time.