EQUINOR and Engie have announced a partnership for the development of low-carbon hydrogen.
The memorandum of understanding will see the companies jointly assess the production and market potential for hydrogen produced from natural gas where the CO2 would be captured and stored offshore. They will assess value chains in Belgium, the Netherlands, and France, and start discussions with potential customers, stakeholders, and relevant authorities.
The companies believe that low-carbon and renewable hydrogen projects are needed at scale so that industrial customers can reduce their emissions before 2030. This will then accelerate the construction of new hydrogen infrastructure which will assist with reaching net zero in 2050.
Edouard Neviaski, CEO of ENGIE's Business Unit Global Energy Management, said: “ENGIE firmly believes that hydrogen will play a key role in the energy transition. ENGIE produces renewable hydrogen and supports the development of the market for low-carbon hydrogen. Both these technologies will be necessary to accelerate the development of a solid infrastructure and the transition to a carbon neutral economy.”
Grete Tveit, Equinor’s Senior Vice President for Low Carbon Solutions, said: “We believe that hydrogen and CCS will be vital if we are going to succeed with the transition. Collaboration and partnerships will be absolutely necessary to find the best solutions. Our two companies have complementary areas of expertise that we can utilise to develop low carbon hydrogen initiatives together.”
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