Provaris Energy Ltd, listed on the ASX under the ticker PV1, has announced a Memorandum of Understanding (MOU) with Norwegian Hydrogen AS, aiming to pioneer and expand green hydrogen infrastructure projects throughout the Nordic region. This partnership is designed to fast-track the establishment of a comprehensive green hydrogen supply chain optimized for export, leveraging Provaris’ specialized GH2 Carriers and storage solutions alongside Norwegian Hydrogen’s prospective production and export facilities, especially within Norway.
This initiative is poised to transform the Nordic countries into a significant hub for green hydrogen, underpinned by the region’s extensive, cost-effective hydroelectric resources and governmental support aimed at enhancing hydrogen exports to Europe. This strategic direction is in line with the REPowerEU plan, which targets an import goal of 10 million tonnes per annum (mtpa) of hydrogen by 2030.
The collaboration includes conducting a joint Design Concept Study, expected to be finalized in the first quarter of 2023. This study will pinpoint optimal production and export locations and evaluate the technical and economic feasibility of establishing a swift, effective green hydrogen supply chain linking major German and Dutch ports.
Martin Carolan, Managing Director and CEO of Provaris, shared his optimism about the partnership, highlighting the strategic benefits of utilizing compressed hydrogen for maritime transport from the Nordic region. Jens Berge, CEO of Norwegian Hydrogen, also noted the efficiency gains this partnership is poised to deliver, specifically in terms of distributing green hydrogen across the European Union.
Norwegian Hydrogen is currently advancing its role in the Northern European hydrogen market with initiatives such as the Hellesylt Hydrogen Hub Pilot-E project. The alliance with Provaris is set to enhance the scale of compressed hydrogen exports to key European import centers, aligning with ambitious EU targets.
Looking ahead, the partnership aims to kickstart hydrogen exports by 2027, with an initial Design Concept Study due for completion by mid-2023. The identified export sites are strategically placed near major future hydrogen import hubs in Germany and the Netherlands, benefiting from the competitive advantages of Provaris’ hydrogen solutions.
Additionally, Provaris’ involvement with Norwegian Energy Partners (NORWEP) is expected to bolster market penetration by facilitating the identification of potential collaboration partners and markets for hydrogen off-take. NORWEP’s network of energy advisors within the EU will support the integration of Provaris’ compressed hydrogen solutions into Europe’s evolving hydrogen infrastructure.
This strategic alliance between Provaris Energy and Norwegian Hydrogen signifies a crucial development towards building a resilient green hydrogen supply network in the Nordics, a key component of Europe’s transition towards sustainable energy solutions.
