AMSTERDAM (Reuters) - Air Products (NYSE:APD) and Gunvor have signed a joint development agreement to build a green hydrogen import terminal in Rotterdam port by 2026, they said on Tuesday.
Green hydrogen is produced using renewable power and is viewed as important for the transition to cleaner energy.
The agreement, which is not a final investment decision, is the second statement of intention this year to build such a terminal, this one at Gunvor's site in the Europoort industrial area of the port.
The companies' plan is to receive ammonia generated from renewable sources outside the Netherlands and convert it to hydrogen at the site before distributing it into the Netherlands, Germany and Belgium, they said in a joint press release.
They did not disclose possible costs, but said they would seek funding as an "Important Project of Common European Interest", a designation that exempts projects from European Union state aid rules.
In April, Dutch gas network operator Gasunie, storage company Vopak NV and HES International BV said they would develop a similar ammonia terminal at Rotterdam port, also by 2026.
Gasunie has said it is spending 4 billion euros ($4.2 billion) over 7 years to develop Dutch hydrogen infrastructure, including the ACE terminal.
Also in April, the port of Rotterdam and Chariot Ltd said they would cooperate to set up supply chains to import green hydrogen and ammonia to Rotterdam from Mauritania.
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