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 contract for the annual supply of 70,000 tons of green hydrogen in Europe starting in 2030.
- This partnership aims to reduce TotalEnergies' net greenhouse gas emissions by 40% by 2030 compared to 2015 levels through decarbonizing oil and gas operations.
- Air Products, a major player in hydrogen supply, has committed over $15 billion to large-scale energy transition projects and sustainability initiatives.
- Additionally, a memorandum of understanding was signed for the supply of renewable power, starting with a Power Purchase Agreement for 150 MW from a solar project in Texas.
TotalEnergies and Air Products have entered a significant agreement for the supply of green hydrogen in Europe, marking a crucial step towards decarbonization. The 15-year contract will see Air Products delivering 70,000 tons of green hydrogen annually to TotalEnergies' Northern European refineries, supporting the reduction of greenhouse gas emissions. This collaboration aligns with TotalEnergies' ambitious goal to cut emissions by 40% by 2030 compared to 2015 levels. Air Products' substantial investment in energy transition projects underscores their commitment to sustainable practices. The partnership also involves exploring renewable power sources, with an initial focus on a solar project in Texas. Both companies are working together to advance renewable energy initiatives and contribute to a greener future.