EU hydrogen plans must be supported by subsidies, regulations- energy execs say [Reuters]
Equinor ASA (EQNR)
Last equinor asa earnings: 2/6 12:43 am
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Source: Reuters
hydrogen to make the transition to clean fuels from fossil fuels, senior energy executives said on Wednesday. Executives from firms including Norway's Equinor and Germany's Uniper said at the Europe Flame Gas and LNG Conference in Amsterdam that without government support it will be hard for companies to fully take on the mission to produce , which is four-to-ten times more expensive than natural gas. WHY IT'S IMPORTANT The European Union aims to produce 10 million metric tons and import 10 million tons of renewable hydrogen by 2030 as the bloc moves to cut carbon emissions. A wholesale move to hydrogen will need significant new demand, which could only come with investments in infrastructure to reduce the cost. KEY QUOTES - Helge Haugane, senior vice president, gas and power at Equinor: "Blue hydrogen is going to be more expensive than gas … and it's going to be more expensive if you go to green hydrogen." "That is why we as companies argue that we need targeted subsi
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