Vitol Green Hydrogen Deal

Copyright © 2023 Energy Intelligence Group All rights reserved. Unauthorized access or electronic forwarding, even for internal use, is prohibited.

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.

Hydrogen, Electricity Prices
Wanda Ad #2 (article footer)
Reaching net-zero emissions remains achievable, with solar and electric cars helping greatly, but political conflicts are standing in the way, finds the International Energy Agency's updated net-zero scenario.
Wed, Sep 27, 2023
The heads of the IEA, ECB and EIB discussed how Europe can avoid falling behind its competitors in the transition to low-carbon energy.
Fri, Sep 29, 2023
The IEA went the extra mile to sweeten the pill, but an update to its Net-Zero by 2050 report still looks harsh for producers.
Thu, Sep 28, 2023