Uniper and Shell plan cooperation for production of blue hydrogen – shares unequal

As the German energy company announced, the blue hydrogen produced should contribute to the decarbonization of industry, transport, electricity and heating markets in the entire Humber region.

A production plant for blue hydrogen with a capacity of up to 720 megawatts (MW) is planned. Gas reforming technology with CO2 capture and storage (CCS) is designed to prevent the CO2 produced during hydrogen production from escaping into the atmosphere. According to the announcement, CSS could capture around 1.6 million tonnes of CO2 per year at Killingholme, contributing to the UK government’s target of 10 million tonnes of CO2 per year by 2030. After joint studies, the project should enter the planning phase by 2023.

In 2021, Uniper and Shell signed a declaration of intent to develop a hydrogen economy in Europe.

The Uniper share temporarily gives 1.54 percent to 23.02 euros in XETRA trading. In London, meanwhile, Shell shares are up 1.41 percent to £21.65.

FRANKFURT (Dow Jones)

Image sources: Tupungato / Shutterstock.com, FotograFFF / Shutterstock.com