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Norway invests in Höegh LNG and Wärtsilä 

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Meenal Datar

Membership specialist

Investor relations, Höegh LNG and technology group Wärtsilä have received €5.9 million in funding from the Norwegian Government’s green platform programme to develop a solution using ammonia as a hydrogen carrier for the energy market.

The project will seek to increase the viability of using hydrogen as a replacement for fossil fuels. A system will be developed to convert ammonia to hydrogen in a process that can be installed onboard a floating terminal to be owned and operated by Höegh Floating terminals offer benefits including greater flexibility for relocation and minimal use of coastal land. They may also provide lower overall costs, improved safety and competitive hydrogen prices.

Erik Nyheim, CEO and president of Höegh LNG says: ‘As a world-leading provider of fast-track floating LNG terminals, we have technology and competence essential to developing a strong clean energy value chain. We are excited to be at the forefront of the energy transition beside our partners and the Norwegian Government and look forward to applying our experience and resources to this important project.’

‘This important project is a natural extension of the investments and efforts made by Wärtsilä to accelerate the use of decarbonised energy. Hydrogen will play a considerable role in future renewable fuel consumption, and there is a clear need for the development of Ammonia as a storage and transportation carrier for hydrogen. We are grateful to the Norwegian government for its support and funding, and we appreciate also the cooperation of Höegh LNG and our other partners in making this project possible,’ adds Walter Reggente, vice president of Wärtsilä Gas Solutions.

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