Saipem and Neptune Energy join North Sea green hydrogen project

Saipem and Neptune Energy join North Sea green hydrogen project

© Supplied by Getty Images







Energy services firm Saipem (IT: SPM) and North Sea operator Neptune Energy are among the latest cohort to join a trailblazing green hydrogen project.

Dutch company Heerema Marine Contractors and engineering consultancy Ramboll have also signed up to the AquaVentus initiative.

They join some of the energy industry’s biggest players, including Shell (LON: RDSA), Equinor (OSLO: EQNR), RWE and Orsted.

Proposed last year, the partners are planning to build a “large-scale” green hydrogen park in the North Sea by 2035.

It would be powered by 10 gigawatts of offshore wind, spread between Helgoland and Dogger Bank, and could produce a million tons of green hydrogen per year.

A total of eight new members have joined AquaVentus, taking the total membership to 79.

The new companies specialise in pipeline operation, oil and gas production, consulting, offshore installation and power-to-X, with particular support coming from the Netherlands.

Jörg Singer, chairman of the AquaVentus board and co-initiator of the project, said: “The interest in AquaVentus and the vision of 1 million tonnes of green hydrogen from the North Sea continues to be great.

“Our holistic concept, from hydrogen generation through offshore electrolysis, to transport by pipeline to use on Helgoland