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The aim is to replace Germany’s coal-fired power stations with plants fuelled by hydrogen produced in Norway and transported by pipeline.
The two companies signed a memorandum of understanding in Oslo yesterday. This envisages the building of power plants that RWE and Equinor will jointly own. These will initially be fuelled with natural gas, but transition to hydrogen as supply and technology become available.
They will also build facilities in Norway to produce “blue” hydrogen from natural gas. More than 95% of the carbon dioxide would be captured and stored under the seabed.
A third element of the plan is the construction of pipelines to carry the hydrogen, and a fourth is the joint development of offshore wind farms to produce green hydrogen.
Through this collaboration we will strengthen the long-term energy security for Europe’s leading industrial country while at the same time offer a viable route to a necessary energy transition for hard-to-abate industries. The collaboration has the potential to develop Norway into a key supplier of hydrogen to Germany and Europe. This is a unique opportunity to build a hydrogen industry in Norway where hydrogen also can be used as feedstock to domestic industries.
Anders Opedal, Equinor’s chief executive