INEOS, Europe's largest Hydrogen producer, said on Oct. 18 that it would invest more than 2 billion euros ($2.3 billion) on electrolysis plants to make zero-carbon green hydrogen across Europe.
The first plants will be built in Norway, Germany and Belgium over the next 10 years, with others planned in the UK and France, the company said in a statement that did not specify the total duration of the investment.
It said it intended to work closely with governments within the European Union, which has made hydrogen a key part of its plan to eliminate greenhouse gas emissions by 2050.
The EU plans to install capacity of 40GW of electrolysers—equipment to produce emissions-free hydrogen using water and renewable power—this decade, up from less than 0.1GW currently.
Last month, INEOS said it would convert its Scottish petrochemicals plant and oil refinery at Grangemouth to run on hydrogen at a cost of more than 1 billion pounds ($1.4 billion) to make it net zero for carbon emissions by 2045.
Recommended Reading
US Drillers Add Oil, Gas Rigs for First Time in Five Weeks
2024-04-19 - The oil and gas rig count, an early indicator of future output, rose by two to 619 in the week to April 19.
Strike Energy Updates 3D Seismic Acquisition in Perth Basin
2024-04-19 - Strike Energy completed its 3D seismic acquisition of Ocean Hill on schedule and under budget, the company said.
Santos’ Pikka Phase 1 in Alaska to Deliver First Oil by 2026
2024-04-18 - Australia's Santos expects first oil to flow from the 80,000 bbl/d Pikka Phase 1 project in Alaska by 2026, diversifying Santos' portfolio and reducing geographic concentration risk.
Iraq to Seek Bids for Oil, Gas Contracts April 27
2024-04-18 - Iraq will auction 30 new oil and gas projects in two licensing rounds distributed across the country.
Vår Energi Hits Oil with Ringhorne North
2024-04-17 - Vår Energi’s North Sea discovery de-risks drilling prospects in the area and could be tied back to Balder area infrastructure.