Recent developments
Electrolyzers and e-fuels
Manufacturing capacity for high-efficiency electrolysis advanced in Europe. Topsoe opened Europe’s largest SOEC facility in Herning (500 MW initial, scalable to 10 GW) with EU support and long-term offtakes for green ammonia and e-fuels. Topsoe’s SOEC platform was selected for Forestal del Atlántico’s Triskelion e‑methanol project in Spain (55 MW green power, 57 kt/y e‑methanol, integrated CO2 capture), indicating continued integration of high-temperature electrolysis with downstream e-fuel synthesis.
Industrial gases strategies
Air Liquide reported Q3 2025 revenue growth and a record efficiency program, with investments advancing the 200 MW ELYgator electrolyzer in the Netherlands and new units for electronics. To finance its expansion in Asia, the Group issued a €2.15 billion multi‑tranche bond to fund the acquisition of DIG Airgas. Linde reported its third quarter 2025 financial results and highlighted offerings across clean hydrogen production and carbon capture for industrial customers.
Refining and power decarbonization
OMV initiated the construction of a 140 MW green hydrogen electrolysis plant to support the decarbonization of its Schwechat refinery. On the power side, RWE plans a hydrogen‑compatible 850 MW CCGT in Voerde, targeting at least 50% H2 at start-up and alignment with Germany’s forthcoming tenders, linking hydrogen supply development with flexible power generation demand.
CO2 logistics integration
Port infrastructure moved toward integrated CCUS corridors as the ports of Duisburg and Rotterdam signed a new letter of intent focused on cross‑border CO2 handling along the Rhine logistics axis, relevant for hard‑to‑abate sectors. At the project level, Northern Lights commenced CO2 transport and storage operations, providing a route for captured emissions that can couple with blue and green hydrogen value chains.
Gas and terminals
Upstream‑to‑midstream gas infrastructure progressed with an $11 billion lease‑and‑leaseback for Aramco’s Jafurah gas processing facilities, underpinning ethane and liquids supply and potential blue hydrogen pathways. Storage and export options broadened as Oman Tank Terminal Company and Royal Vopak formed a joint venture in Duqm to develop energy storage and terminal infrastructure relevant for conventional and transition commodities.
Capital and renewables
Power producers adjusted portfolios that influence renewable availability for electrolysis. Statkraft signed agreements to divest NOK 13.5 billion of assets and outlined annual investments of NOK 16–20 billion focused on solar, wind, batteries, and grids in Europe and South America, indicating a continued shift toward assets that can supply or integrate with hydrogen production and balancing needs.