Equinor plans to supply hydrogen to 3-5 major industrial clusters by 2035, with a goal of capturing a 10% share of Europe’s clean hydrogen market by that time.
The company intends to accomplish these goals through a portfolio of hydrogen projects focused on industrial clusters in Norway, northwest Europe, the United Kingdom, and the United States.
“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 (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.
H2H Saltend, Keadby hydrogen power station, and NortH2 are all existing hydrogen projects.
In total, the company intends to produce 1.8GW of clean hydrogen in the United Kingdom.
Equinor has also signed a memorandum of understanding with US Steel, one of the leading steel producers in the United States, to explore the possibilities for hydrogen and carbon capture and storage development in the tri-state region.
The company does not have specific targets for hydrogen production or deployment, but its overall investment in low-carbon solutions and renewables will increase from 4% now to over 30% in 2025 and over 50% in 2030 as part of the transition plan.
