RWEOY Rwe Ag (PK)

By Giulia Petroni

RWE AG and Equinor ASA have agreed to collaborate on large-scale projects that will contribute to strengthening Europe's security of supply and ramp-up the production of low-carbon hydrogen.

The strategic partnership between the two energy companies includes the construction of new gas power plants in Germany that will be initially fueled with natural gas and eventually use hydrogen, Equinor said Thursday. It also foresees building production facilities in Norway to produce low-carbon hydrogen from natural gas with carbon capture and storage, exporting the hydrogen from Norway to Germany by pipeline, and developing offshore wind farms for the production of renewable hydrogen.

"Through this collaboration we will strengthen the long-term energy security for Europe's leading industrial country while at the same time offer a viable route to a necessary energy transition for hard to abate industries," Equinor's Chief Executive Officer Anders Opedal said.

Financial details weren't released.

Write to Giulia Petroni at giulia.petroni@wsj.com

(END) Dow Jones Newswires

January 05, 2023 04:48 ET (09:48 GMT)

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