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Home / Shipping News / International Shipping News / Höegh LNG acquires minority stake in Gen2 Energy and signs cooperation agreement on seaborne logistics for green hydrogen
Höegh LNG acquires minority stake in Gen2 Energy and signs cooperation agreement on seaborne logistics for green hydrogen
In a recently signed agreement, Gen2 Energy and Höegh LNG agrees to cooperate on the development of a seaborne logistics chain for green hydrogen as envisioned by Gen2 Energy.
The partnership targets to take a first mover position in seaborne transport of green hydrogen, a market that does not exist on a large scale today. Green hydrogen can be produced at cost competitive levels, but several of the optimal production sites are at remote locations, making transport by land expensive. By transporting hydrogen at sea, the two parties aim to reduce both transport cost and CO2 emissions significantly.
Port of Cromarty green hydrogen hub ambitions boosted with new MoU
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Norwegian green hydrogen is set to be imported to the UK market following a new Memorandum of Understanding (MoU) at the Port of Cromarty, Scotland.
The Port of Cromarty has signed a MoU with Norwegian firm Gen2 Energy AS that will see the development of a commercial pathway to import green hydrogen from Norway to the UK market.
The partnership will provide a security of supply for Cromarty Firth’s own plans to develop a largescale electrolyser facility that gurantees green hydrogen to those who want access to clean energy by mid-2023.
A HIGHLAND port could become a major link in the country’s market for green hydrogen after signing an agreement with a Norwegian company. Port of Cromarty Firth has signed a memorandum of understanding (MoU) with Gen2 Energy to create what it describes as a commercial pathway to import green hydrogen. The partnership will offer security of supply for the Cromarty Firth’s own plans for a large-scale electrolyser facility, and will guarantee the clean, green hydrogen to those who want to access it by mid-2023 – giving them the confidence to make concrete commitments to start switching their infrastructure. It will also help realise the Scottish Government’s ambition to become a leading hydrogen nation generating 5GW of renewable and low-carbon hydrogen by 2030 – enough clean energy to power the equivalent of 1.8 million homes.
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