ENGIE and Equinor have joined forces to develop low-carbon hydrogen activities.
The firms will investigate the production and market potential for hydrogen from natural gas whereby CO2 will be captured and stored permanently offshore. They signed a memorandum of understanding to investigate the development of low-carbon hydrogen value chains in Belgium, the Netherlands, and France.
ENGIE and Equinor believe it is essential to develop low-carbon and renewable hydrogen projects at scale to make it possible for customers to significantly reduce CO2 emissions before 2030. This development will accelerate the construction of new hydrogen infrastructure and the repurposing of current natural gas infrastructure, paving the way for net zero in 2050.
“We are glad to work on this project with Equinor, a long-standing partner for more than 40 years,” said Edouard Neviaski, CEO of ENGIE’s global energy management business unit.
“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: “Equinor aims to be a leading company in the energy transition. We believe that hydrogen and CCS will be vital if we are going to succeed in 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."