Abu Dhabi clean energy company Masdar has signed a preliminary agreement with four Dutch companies to explore the development of a green hydrogen supply chain between Abu Dhabi and Amsterdam.
The agreement, signed with the Port of Amsterdam, SkyNRG, Evos Amsterdam and Zenith Energy, will focus on green hydrogen production in Abu Dhabi and export to the Netherlands through the port of Amsterdam, Masdar said in a statement on Friday.
“This agreement builds upon the existing relationship between the UAE and the Netherlands and demonstrates our mutual commitment to exploring low- and zero-carbon energy solutions,” said Dr Sultan Al Jaber, UAE Minister of Industry and Advanced Technology, Cop28 President-designate, managing director and group chief executive of Adnoc and chairman of Masdar.
“The UAE aims to play a central role in the emerging green hydrogen economy and this partnership with the Port of Amsterdam and associated players in the green hydrogen space would help position Abu Dhabi as a key hub for green hydrogen development.”
Hydrogen is set to play a key role in the transition to a net-zero energy system and help in decarbonising sectors that are difficult to electrify — such as heavy industry and long-haul transport, according to the International Renewable Energy Agency.
Globally, the hydrogen industry is expected to be worth $183 billion this year, up from $129 billion in 2017, according to Fitch Solutions.
French investment bank Natixis estimates that investment in hydrogen will exceed $300 billion by 2030.
The demand for green hydrogen, specifically, which is produced with electricity from renewables like wind or solar, is booming.
Last month, Masdar announced its new shareholding structure as part of a deal with Abu Dhabi National Energy Company — better known as Taqa — Mubadala Investment Company and Adnoc, along with the creation of a green hydrogen business unit.
It now has a goal of achieving 100 gigawatts of renewable energy capacity and green hydrogen production of 1 million tonnes a year annually by 2030.
As part of Masdar's latest agreement, green hydrogen exported from Abu Dhabi will be delivered to key European sectors, such as sustainable aviation fuel, steelmaking, and bunkering for shipping, the statement said.
It will also be supplied to new, emerging European offtakers — entities that commit to purchase power generated by energy producers for specific time period at a fixed price — through pipeline, lorry and barge.
Together, the parties will explore several hydrogen transportation methods, with a focus on liquid organic hydrogen carriers and liquid hydrogen.
“The Netherlands is keen on developing green hydrogen corridors with major future exporting countries like the UAE,” said Netherlands Foreign Minister Wopke Hoekstra.
“Our country is well positioned to become a hydrogen hub for the north-western European market.”
Port of Amsterdam, the operator of Europe’s fourth-largest port, is working with commercial parties there on green hydrogen development.
Zenith Energy and Evos Amsterdam operate blending and storage terminals in the port.
SkyNRG is developing a network of SAF production facilities that require green hydrogen as input.
“Masdar believes green hydrogen to be a promising energy source for hard-to-abate sectors in support of global decarbonisation, which is why we launched our dedicated green hydrogen business last month,” Mohamed Al Ramahi, chief executive of Masdar, said.
“We are pleased to partner with Port of Amsterdam, SkyNRG, Evos Amsterdam, and Zenith Energy to leverage our synergies in the fuel and logistics sectors to see how green hydrogen can help us achieve our shared goals for decarbonisation and sustainable economic growth.”
Masdar is already involved in a number of projects related to green hydrogen production.
Last year, it signed agreements with Egyptian state-backed organisations to co-operate on the development of green hydrogen production plants in the country.
In the first phase, the companies aim to establish a green hydrogen manufacturing unit that is capable of producing 100,000 tonnes of e-methanol annually for bunkering in the Suez Canal, Masdar said at the time.
The unit is expected to be operational by 2026.
Electrolyser facilities in the Suez Canal and on the Mediterranean could also be extended to up to 4 gigawatts by 2030 to produce 2.3 million tonnes of green ammonia for export and output of up to 480,000 tonnes of green hydrogen a year.
Killing of Qassem Suleimani
The drill
Recharge as needed, says Mat Dryden: “We try to make it a rule that every two to three months, even if it’s for four days, we get away, get some time together, recharge, refresh.” The couple take an hour a day to check into their businesses and that’s it.
Stick to the schedule, says Mike Addo: “We have an entire wall known as ‘The Lab,’ covered with colour-coded Post-it notes dedicated to our joint weekly planner, content board, marketing strategy, trends, ideas and upcoming meetings.”
Be a team, suggests Addo: “When training together, you have to trust in each other’s abilities. Otherwise working out together very quickly becomes one person training the other.”
Pull your weight, says Thuymi Do: “To do what we do, there definitely can be no lazy member of the team.”
Ten tax points to be aware of in 2026
1. Domestic VAT refund amendments: request your refund within five years
If a business does not apply for the refund on time, they lose their credit.
2. E-invoicing in the UAE
Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.
3. More tax audits
Tax authorities are increasingly using data already available across multiple filings to identify audit risks.
4. More beneficial VAT and excise tax penalty regime
Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.
5. Greater emphasis on statutory audit
There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.
6. Further transfer pricing enforcement
Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.
7. Limited time periods for audits
Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.
8. Pillar 2 implementation
Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.
9. Reduced compliance obligations for imported goods and services
Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.
10. Substance and CbC reporting focus
Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.
Contributed by Thomas Vanhee and Hend Rashwan, Aurifer
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1. Featherweight 66kg
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2. Lightweight 70kg
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