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Norway's top oil producer has multibillion-dollar hydrogen plan

Norwegian state oil and gas giant Equinor is poised to invest a hundred billion kroner in blue hydrogen by 2035, relying on a massive gas output rivaled by no other country in western Europe.

Photo: Ints Kalnins/Reuters/Ritzau Scanpix

Equinor ASA, the flagship producer of oil and gas giant Norway, is investing billions of dollars in blue hydrogen on a bet that it can make the fuel more cleanly than anyone else.

The state-controlled oil firm is among energy companies across Europe stepping up plans for hydrogen as mounting pressure to fight climate change spurs massive shifts in investment. Equinor believes it has the edge in the race to commercialize the industry because it leaks less methane than its rivals.

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