According to the agreement, both sides will exchange knowledge and explore new opportunities of cooperation related to hydrogen.
Northwest Europe will need to import large volumes of green hydrogen to become CO2-neutral.We expect hydrogen to take on the position oil has today, as an energy carrier as well as feedstock for the industry. We are therefore exploring the possibilities to import hydrogen from countries that have the potential to produce large volumes of hydrogen at a competitive price, like Iceland.
…Allard Castelein, CEO Port of Rotterdam Authority, stated.
What is more, the MoU is part of the port’s hydrogen strategy of becoming a major import hub for hydrogen.
Recently, Landsvirkjun announced the feasibility-study of developing a hydrogen production facility at the Ljósifoss Hydropower Station, about 70 km outside of Reykjavík.
The production will be carbon-free, through the electrolysis of water with renewable power.
Specifically, this carbon-free method of producing hydrogen is still too uncommon, with most of the world’s hydrogen supply currently produced from natural gas with its respective carbon footprint.
Using hydrogen as a carrier, we can export our Icelandic green renewable energy to the European mainland, thereby increasing our contribution to the joint efforts necessary to facilitate a world-wide energy transition. The European market for green hydrogen will no doubt grow considerably in the coming years, and this MOU will enable us to monitor and take part in that development right from the get-go.
…as Hordur Arnarson, CEO of Landsvirkjun, conluded.