Provaris Energy Progresses Norwegian Hydrogen and Uniper MOU for Regional Hydrogen Supply to Germany

September 05, 2024 06:04 PM AEST | By Team Kalkine Media

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Provaris Energy Progresses Norwegian Hydrogen and Uniper MOU for Regional Hydrogen Supply to Germany — Image source: shutterstock

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Provaris Energy Ltd (ASX:PV1) is advancing its collaboration on hydrogen supply with Norwegian Hydrogen AS and strategic partner Uniper, following the recent signing of a Memorandum of Understanding (MOU). The MOU, established last month, is designed to enhance the development of hydrogen supply chains from Norway and other potential Nordic locations to import hubs in northwest Europe.

The agreement outlines a framework for the production and delivery of green hydrogen, which will be generated by Norwegian Hydrogen. Provaris will facilitate the transportation of this hydrogen using its H2 Neo carriers and H2 Leo storage barges. The focus is now on finalizing key aspects of a hydrogen sales and purchase agreement, with a term sheet anticipated for the December 2024 quarter. The objective is to secure a 10-year contract to support long-term charters for Provaris' proprietary H2 Neo carriers and H2 Leo barges.

The collaboration between Provaris and Norwegian Hydrogen is aimed at identifying and developing sites capable of supplying RFNBO-compliant hydrogen. This type of hydrogen is produced through electrolysis using low greenhouse gas electricity sources, in alignment with the RFNBO Delegated Act.

The partnership is evaluating potential sites in the Nordics, with specific focus on Norway and Finland. Among the sites under detailed feasibility study is the FjordH2 Project located in the Ålesund region of Norway.

The MOU represents a significant step forward in the establishment of a regional hydrogen supply network, leveraging Provaris' expertise in hydrogen transportation and storage, and Norwegian Hydrogen's capabilities in hydrogen production. The collaboration is poised to contribute to the growing hydrogen economy in Europe and support the transition to greener energy solutions.

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