Trafigura advances hydrogen projects as profits surge

Trading group progresses projects in Denmark, Norway and Australia as volatile commodity markets deliver record profits

Commodities trading group Trafigura is advancing several green hydrogen projects and investing in solar power and battery storage after booking record H1 profits on the back of higher prices and trading volumes. Trafigura’s net profit for the first half of 2022 was $2.7bn, up by 27pc against the same period last year. The company is progressing plans to deploy a 1GW electrolyser in Denmark to fuel trucks and other heavy land-based transport, says CEO Jeremy Weir. It is also developing up to 250 green hydrogen retail refuelling stations in Austria, Denmark and Germany together with Houston-headquartered Phillips 66, the owner of Jet-branded stations. In Australia, the company is progressing a