Norwegian energy company Equinor and its partner RWE have recently announced decision to halt ambitious plan to export hydrogen to Germany.
This project aimed to facilitate the transportation of low-carbon hydrogen from Norway to Germany, intending to aid Europe’s largest economy in reducing its dependence on fossil fuels.
The primary reason for terminating the project centers around the economic feasibility and market readiness for significant hydrogen imports. According to Equinor, the current market conditions do not support large-scale hydrogen exports, making the project non-viable.
Despite halting the export plans, Equinor remains committed to hydrogen as part of its energy strategy. The company plans to focus on developing hydrogen projects within Norway and other regions. Additionally, Equinor aims to continue investing in other renewable energy sources and technologies to support its overall sustainability goals.
This decision may prompt other companies and governments to reevaluate their strategies for hydrogen production and export. It underscores the necessity of economic viability, market readiness, and supportive policies to ensure the success of hydrogen as a renewable energy source.
