Norway – In an effort to speed up Norway’s transition to a low-emission society, GAC Norway has joined the HyValue initiative to develop knowledge, methodology, and creative solutions for the production of hydrogen energy carriers.
The Ministry of Petroleum and Energy of the Norwegian government will contribute NOK15 million per year until 2030 to the project, which is being led by NORCE, one of Norway’s largest independent research organizations.
In order to support the HyValue initiative for the creation of strategies for the storage, handling, and bunkering of hydrogen in maritime applications, GAC Norway will draw on the experience and expertise of the larger GAC Group in low carbon and sustainable bunker fuels. It will also help with the creation of supply chain and maritime logistics systems, as well as understanding legal requirements and financial incentives to promote the benefits of hydrogen as a substitute fuel for shipping.
Hydrogen is proving to be the alternative fuel of choice for shipowners all over the world as the maritime industry continues its push toward decarbonization and the International Maritime Organization’s goal of halving greenhouse gas emissions by 2050. In comparison to conventional bunker fuels, hydrogen is more environmentally friendly because it can be produced using renewable electrical energy and biorenewable processes, contains no sulfur or carbon, and will disperse organically in the event of a leak.
There are currently hydrogen-powered ferries and smaller shipping vessels operating in Europe and North America, and a number of significant oil and gas companies are funding hydrogen production initiatives in Europe and Asia. Hydrogen must be compressed into a liquid and maintained under high pressure in order to be used as a fuel, so there is still a need to develop substantial storage and handling facilities.