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
Also in this section
24 April 2024
Demand for energy purposes to outpace feedstock applications by the 2040s as government policies drive consumption, says DNV
24 April 2024
Danish firm joins growing list of European electrolyser manufacturers establishing production in US as IRA incentives prove strong draw
19 April 2024
UAE renewables developer weighs opportunities to join green hydrogen projects in US and Canada, Andreas Bieringer, director of green hydrogen business development and commercial, tells Hydrogen Economist
17 April 2024
Building green hydrogen ports and lower production costs key to becoming global exporter