Engie and Equinor Signed MoU for Low-Carbon Hydrogen

Engie - a French multinational electric utility company signed a memorandum of understanding (MoU) with Equinor, a Norwegian state-owned multinational energy company to jointly work and produce hydrogen with low carbon emissions.

February 20, 2021. By News Bureau

Engie - a French multinational electric utility company signed a memorandum of understanding (MoU) with Equinor, a Norwegian state-owned multinational energy company to jointly work and produce hydrogen with low carbon emissions.

The partners will explore the production and demand potential for hydrogen from natural gas whereby the CO2 will be captured and stored permanently offshore.

Commenting on the partnership, Edouard Neviaski, CEO of ENGIE's Business Unit Global Energy Management, said, “we are glad to work on this project with Equinor, a long-standing partner for more than 40 years. 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.”

As per the agreement, both the partners will work for the development of low-carbon hydrogen value chains in Belgium, the Netherland and France. The companies will access the viability of the project through discussions with potential customers, stakeholders, and relevant authorities.

“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 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 utilize to develop low carbon hydrogen initiatives together,” said Grete Tveit, Equinor’s senior vice president for Low Carbon Solutions.

On its way to significantly reduce the emission of carbon dioxide before 2030, and equip the industry to achieve the same, both Engie and Equinor believe that it’s high time to develop low-carbon and renewable hydrogen projects at a bigger scale. The move will thus accelerate the construction of new hydrogen infrastructure with larger efficiency, thus paving the way for net zero in 2050.

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