Helios has recently submitted an Ordinary environmental application for the Monzón-2 well to the Government of Aragón.
The well, planned to be drilled to a total depth of 4000 meters, aims to appraise the natural hydrogen reserve initially discovered by the Monzón-1 exploration well in the 1960s. This submission marks a critical step in the regulatory process, with site preparation, drilling, testing, and subsequent restoration estimated to take six months.
Declared of “regional significance” by the Government of Aragón in May 2023, the Monzón Natural Hydrogen Project is forecast to require an investment of up to €900 million. Verified projections indicate that the project could generate 300 direct and over 1500 indirect employment opportunities for the region. This substantial capital infusion and job creation potential underscore the strategic value attributed to natural hydrogen in the context of the clean energy transition.
The underlying promise of natural hydrogen lies in its potential to revolutionize energy supply. Produced 24/7 with existing technology, it offers a low-cost, minimal-emission energy source that could incentivize industries to secure local offtakes. The versatility of natural hydrogen is notable—it can serve as a feedstock for products ranging from fuel cells to fertilizers, or be deployed directly to replace fossil fuels in pursuit of decarbonization mandates.
In addition to hydrogen, the Monzón reservoir is expected to contain helium—a resource classified by the European Union as a “critical raw material.” Should the drilling reveal recoverable helium, Spain would mark its first production of a gas integral to medical, technological, and research industries, further enhancing the project’s strategic profile.
The Monzón initiative not only represents a significant investment in regional infrastructure but also offers a tangible pathway toward achieving energy security and decarbonization goals. By integrating natural hydrogen—and potentially helium—into a scalable energy framework, the project addresses both the economic imperatives of job creation and the technical challenges associated with transitioning to a cleaner, more resilient energy system.
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