By Dominic Chopping

Norwegian oil and gas major Equinor ASA and French utility Engie S.A. on Thursday said they have formed a partnership to develop low-carbon hydrogen.

The companies will investigate the production and market potential for hydrogen from natural gas.

The partners have signed a memorandum of understanding to investigate the development of low-carbon hydrogen in Belgium, the Netherlands and France. In the coming months they will start talks with potential customers to assess the project, as well as with stakeholders and authorities.

"Engie and Equinor believe that it is essential to develop low-carbon and renewable hydrogen projects at scale in order to make it possible for industrial customers to significantly reduce CO2 emissions before 2030," they said in a statement.

"This development of low carbon and renewable hydrogen will accelerate the construction of new hydrogen infrastructure and the repurposing of current natural gas infrastructure, thus paving the way for net zero in 2050."

Write to Dominic Chopping at dominic.chopping@wsj.com

(END) Dow Jones Newswires

February 18, 2021 03:22 ET (08:22 GMT)

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