Equinor Energy & Mitsubishi Heavy to collaborate on low-carbon technology to reduce carbon footprint of oil & gas operations
Norway-based energy company Equinor Energy and Mitsubishi Heavy Industries (MHI) signed a Memorandum of Understanding (MoU) for a low-carbon technology collaboration. The non-exclusive cooperation agreement will see both companies develop and use technology to reduce the carbon footprint of oil & gas operations. In particular, the companies will look at further developing the hydrogen and carbon capture, utilization and storage (CCS/CCUS) value chains.
To date, MHI group provides a number of technologies along the hydrogen and CCUS value chains, including CO2 capture, compression, regasification, and pressurization equipment.
MHI has also further developed its advanced-class gas turbines to be capable of utilizing hydrogen, currently at 30%, and ultimately 100%. Furthermore, the company’s solid oxide fuel cell (SOFC) units can generate both electricity and heat.
With its competence in shipbuilding, MHI group also provides solutions for long-distance CO2 transport as the company draws on its expertise of building liquefied petroleum gas (LPG) carriers and liquefied natural gas (LNG) carriers which have the same architectural model as the LCO2 ships needed in the CCUS value chain.
Equinor will develop business opportunities to de-carbonize existing value chains related to the oil and gas business, such as CCUS and hydrogen, and create synergies between renewable and oil & gas value chains.
Equinor aims to become climate neutral within 2050. The ambition concerns production emissions and energy use. The current portfolio will be developed to expand the renewable energy components which will be fundamental to achieving the goals of the Paris Agreement.