The use of new technologies to cut CO2 emissions is the focus of an agreement signed between Italy's gas pipeline operator Snam and State Grid International Development (SGID) during finance minister Giovanni Tria's visit to in China, Snam said in a statement on Tuesday.
The memorandum of understanding inked between Snam and China's SGID - the world’s largest energy utility, was inked on Tuesday at the Italian embassy in Beijing in the presence of Tria, Snam's chief executive marco Alvera, SGID chairman Hu Yuhai, and Italy's state-owned lender Cassa depositi e prestiti's CEO Fabrizio Palermo, the statement said.
Snam and SGID agreed to look at the potential to cooperation on the construction of biogas and biomethane plants for renewable electricity production in rural areas of China and possible joint ventures in natural gas storage sites in Australia and China, according to the statement.
The two companies are exploring potential opportunities for collaboration in various fields, from biomethane to research and development on renewable gas, sustainable mobility and joint electricity-gas projects, the statement said.
“This initiative 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," said Alvera.
"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,” he added.
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