TotalEnergies and Air Products Sign 15-Year Agreement for Green Hydrogen Supply in Europe
Key Ideas
- TotalEnergies and Air Products have agreed on a 15-year deal to supply 70,000 tons of green hydrogen annually in Europe starting in 2030, aiming to reduce around 700,000 tons of CO₂ emissions per year.
- Air Products, a leading hydrogen supplier, is committed to large-scale energy transition projects and has invested over $15 billion towards low carbon hydrogen initiatives globally.
- The agreement between TotalEnergies and Air Products is a significant step towards TotalEnergies' goal of cutting net greenhouse gas emissions from its operations by 40% by 2030 compared to 2015 levels, showcasing a commitment to sustainability and decarbonization.
- TotalEnergies and Air Products are further enhancing their partnership by exploring renewable power supply opportunities, contributing to Air Products' decarbonization roadmap and TotalEnergies' integrated electricity strategy.
TotalEnergies and Air Products have entered a 15-year agreement for the supply of 70,000 tons of green hydrogen annually in Europe, set to commence in 2030. This collaboration is a response to TotalEnergies' call for tenders seeking 500,000 tons per year of green hydrogen to decarbonize its European refineries. The deal will see Air Products delivering green hydrogen from its global network to TotalEnergies' Northern European refineries, effectively mitigating about 700,000 tons of CO₂ annually. This strategic move aligns with TotalEnergies' aim to reduce greenhouse gas emissions from its oil and gas operations by 40% by 2030. Air Products, recognized as a key hydrogen supplier, has dedicated substantial investments to energy transition projects and is a pioneer in low carbon hydrogen initiatives worldwide. The partnership signifies a joint effort towards sustainability and a cleaner future. Additionally, both companies have signed a memorandum of understanding for the supply of renewable power, with plans to engage in Power Purchase Agreements for solar projects in various locations. This collaboration reinforces their commitment to decarbonization efforts and aligns with TotalEnergies' sustainable energy strategy.
Topics
Production
Renewable Power
Energy Transition
Partnership
Decarbonization
European Market
Carbon Footprint
Oil And Gas Industry
Long-term Agreement
Latest News