Norwegian energy company Equinor aims to supply hydrogen to 3-5 major industrial clusters by 2035, aiming for a 10pc share of Europe’s clean hydrogen market by that date, according to its latest energy transition plan. 

The firm plans to realise these ambitions through a portfolio of hydrogen projects, centred in industrial clusters in Norway, northwest Europe, the UK and the US.

“We have made considerable progress on some of our key projects and added several new ones, including the H2BE project for low-carbon hydrogen production in Belgium and an initiative to develop a low-carbon and hydrogen industrial region in the tri-state area [of Ohio, Pennsylvania and West Virginia] in the US,” says the firm.

“As we execute on our strategy of providing hydrogen and CO₂ management services to large industrial clusters, we retain significant optionality across decarbonisation segments and geographies,” the firm adds.

Existing hydrogen projects include H2H Saltend, Keadby hydrogen power station and NortH2.

“We have made considerable progress on some of our key projects” Equinor

Overall, the firm has a target to produce 1.8GW of clean hydrogen in the UK.

Equinor has also signed a memorandum of understanding with US Steel, one of the largest steel manufacturers in the US, to examine the potential for hydrogen and CCS development in the tri-state region.

The firm has no separate hydrogen production or deployment targets, but overall its investment in its low-carbon solutions and renewables businesses will rise from 4pc currently to over 30pc in 2025 and over 50pc in 2030 as part of the transition plan.

The full strategy will be submitted for an advisory vote by shareholders at the company’s AGM on 11 May.

---

Author: Tom Young