Save for later Print Download Share LinkedIn Twitter Reflecting the growing interest in hydrogen, Swiss-based oil trader Vitol has acquired a 10% equity stake in green hydrogen player Gen2 Energy. Low-carbon hydrogen is expected to play a strategic role in the energy transition and Gen2 Energy's plan is to use excess hydropower in Norway to produce hydrogen mainly for sale to customers in Europe. Vitol, in common with its trading peers, is building up low-carbon business lines, buying a 240 MW wind farm in the US, offering green LNG cargoes and moving forward with its gas-fired carbon capture and storage project in the UK's Humber Estuary industrial region (NE Apr.8'21). First green hydrogen could be produced by Gen2 in late 2023, Vitol said.
