Norwegian energy giant Equinor (NYSE: EQNR) and global industrial gases and engineering company Linde (NASDAQ: LIN) have entered into a project development agreement for the H2M Eemshaven low-carbon hydrogen initiative in the Netherlands.
Equinor plans to reform natural gas from the Norwegian continental shelf to hydrogen using carbon capture and storage (CCS), with over 95% of the captured carbon dioxide (CO2) to be stored safely offshore Norway.
The project, set to begin production in late 2028, envisions establishing a hydrogen plant in the Eemshaven industrial area, which will connect to planned onshore pipelines in the Netherlands and Germany, according to a statement by Equinor published at the beginning of the week.
Under this agreement, Equinor secures access to carbon transport and storage while providing low-carbon hydrogen to the market.
Linde will be responsible for constructing, co-owning, and operating the hydrogen production and carbon capture and transfer facility.
H2M Eemshaven aligns with Equinor’s broader strategy to develop hydrogen production in several major European industrial clusters by 2035.
Grete Tveit, Equinor’s Senior Vice President for low-carbon solutions, emphasized the project’s significance in achieving this vision.
According to the executive, Linde brings expertise in developing and operating hydrogen and carbon capture plants which complements the proficiency that Equinor has in energy marketing and CCS.
H2M Eemshaven, with a production capacity of 1 GW (235,000 tons), is poised to contribute significantly to Equinor’s climate ambitions and hydrogen strategy, targeting 10% of the European hydrogen market share by 2035.
The project anticipates meeting 2.3% of Europe’s existing grey hydrogen demand and 0.24% of the projected clean hydrogen market share in 2050.