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    EQNR   NO0010096985

EQUINOR ASA

(EQNR)
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Equinor and SSE Develop Plans for UK Hydrogen Storage Facility

07/15/2021 | 09:21am EDT

By Dominic Chopping

Norwegian energy group Equinor ASA said Thursday that with British energy company SSE PLC's Thermal unit they are developing plans for a hydrogen storage facility at their existing Aldbrough site on the East Yorkshire coast, in the north of England.

The existing Aldbrough gas storage facility, which was commissioned in 2011, is co-owned by SSE Thermal and Equinor, and consists of nine underground salt caverns.

Upgrading the site to store hydrogen would involve converting the existing caverns or creating new purpose-built caverns to store the low-carbon fuel, Equinor said.

Aldbrough hydrogen storage would have an initial expected capacity of at least 320 gigawatt hours, and the facility could be storing low-carbon hydrogen as early as 2028, it said.

"As increasing amounts of hydrogen are produced both from offshore wind power, known as 'green hydrogen', and from natural gas with carbon capture and storage, known as 'blue hydrogen', facilities such as Aldbrough will provide storage for low-carbon energy," Equinor said.

Aldbrough Hydrogen Storage, and the partners' other hydrogen projects in the region, are in the development stage and final investment decisions will depend on the progress of the necessary business models and associated infrastructure.

Write to Dominic Chopping at dominic.chopping@wsj.com

(END) Dow Jones Newswires

07-15-21 0920ET

Stocks mentioned in the article
ChangeLast1st jan.
EQUINOR ASA -1.56% 201.7 Real-time Quote.39.15%
SSE PLC -2.42% 1634.5 Delayed Quote.8.97%
WTI -0.92% 71.894 Delayed Quote.50.62%
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Analyst Recommendations on EQUINOR ASA
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Financials (USD)
Sales 2021 73 737 M - -
Net income 2021 7 604 M - -
Net Debt 2021 7 971 M - -
P/E ratio 2021 9,96x
Yield 2021 2,87%
Capitalization 75 386 M 75 538 M -
EV / Sales 2021 1,13x
EV / Sales 2022 1,10x
Nbr of Employees 21 245
Free-Float 32,6%
Chart EQUINOR ASA
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Equinor ASA Technical Analysis Chart | EQNR | NO0010096985 | MarketScreener
Technical analysis trends EQUINOR ASA
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TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 27
Last Close Price 23,18 $
Average target price 23,13 $
Spread / Average Target -0,24%
EPS Revisions
Managers and Directors
Anders Opedal President & Chief Executive Officer
Ulrica Fearn Chief Financial Officer & Executive Vice President
Jon Erik Reinhardsen Chairman
Carri Ann Lockhart Executive VP-Technology, Digital & Innovation
Jannicke Nilsson Chief Operating Officer
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