Total Energies Secures 15-Year Green Hydrogen Deal with RWE

Recently, Total Energies has announced a significant 15-year green hydrogen supply agreement with RWE, Germany's largest utility company. Under this agreement, RWE will supply approximately 30,000 tons of green hydrogen annually to Total Energies from 2030 to 2044. The green hydrogen produced by RWE will be utilized at Total Energies' Leuna refinery in Germany to help reduce carbon emissions.

This move is part of Total Energies' commitment to increasing its green hydrogen production this year. In a prior announcement, the company revealed plans to invest $1.09 billion in partnership with Air Liquide to build two electrolyzer projects in the Netherlands aimed at producing green hydrogen. However, BloombergNEF has reported that green hydrogen is unlikely to be cost-competitive for a considerable time, projecting that it may not compete with gray hydrogen produced from natural gas on price until at least 2050.