Spain/France – The cost of an underwater pipeline to transport green hydrogen between Spain and France, according to Spanish Prime Minister Pedro Sanchez, is estimated to be around 2.5 billion euros ($2.6 billion). He also expressed hope that the European Union will contribute to the project’s funding.
Sanchez claims that the pipeline from Barcelona to Marseille will be finished and have a 2 million ton capacity by the end of the decade.
The decision to continue forward with the project was made at a time when the European Union’s ambitions to boost renewable energy as a substitute for Russian gas have been accelerated by the energy crisis brought on by the conflict in Ukraine.
Green hydrogen is created using electrolyzers that are powered by renewable energy. According to Portuguese Prime Minister Antonio Costa, the Iberian peninsula’s abundant sunshine and wind—which are utilized to produce renewable energy—will make the production of hydrogen competitive.
The pipeline may also be used to transport so-called red hydrogen, or hydrogen made in France from nuclear energy, in the opposite direction, according to French President Emmanuel Macron.
Reuters reports that the undersea component of the 455-kilometer (280-mile) pipeline will cost about 2 billion euros, with a potential increase to 3 billion depending on the route.
H2MED will be the name of the entire hydrogen corridor connecting France, Spain, and Portugal, whereas BarMar will be the name of the submarine section.
Sanchez claimed that France, Spain, and Portugal would ask the EU for financial assistance to pay up to 50% of the cost of H2MED.