Multinational energy companies, Equinor and RWE, have announced an agreement for a strategic energy partnership between them. The agreement includes large scale projects that will contribute to the European energy supply as well as to the progress of the hydrogen economy in Germany and the EU. In addition, the partnership will strengthen the long-term security of supply of a decarbonised European power sector.
The investments are dependent on the construction of a hydrogen pipeline between Norway and Germany and a German hydrogen downstream infrastructure. In anticipation of this infrastructure, Equinor and RWE propose a series of investments that would be major building blocks for European hydrogen supply and its utilisation in the power sector from 2030 onwards.
Anders Opedal, Equinor’s CEO and president says: ‘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.’
‘In order to make progress in the conversion from fossil fuels to hydrogen, there is an urgent need for a rapid ramp up of the hydrogen economy. Blue hydrogen in large quantities can be the start, with subsequent conversion into green hydrogen supply. This is exactly what we are driving forward with our partnership – providing the industries with significant quantities of hydrogen. In addition, our planned investments into hydrogen-ready gas-fired power plants will ensure security of supply in a decarbonized power sector,’ adds Markus Krebber, CEO of RWE.
