Galp – the largest hydrogen producer and user in Portugal – has joined the Hydrogen Council (HC), an association of large companies and institutions worldwide that aims to promote the development of hydrogen as the most competitive solution for the decarbonisation of many sectors of the economy.
Membership of the HC occurred in an expansion wave of the organization that added 22 new members, bringing current membership to 81 partners. These include large players from the Energy, Transportation and Industrial sectors, as well as from Finance, who share a common view on the role of hydrogen for the energy transition.
Galp produces annually about 120,000 tons of hydrogen that is used in the production process of its refining system. It is also involved in the launch of the first hydrogen filling-station in Portugal, which is expected to open later this year to supply a bus fleet.
In the longer term, Galp is evaluating other large-scale projects, including partnerships related to the production of green hydrogen from renewable energy and its association with decarbonisation of industrial processes and mobility, or for injection into natural gas networks.
These projects are covered by Galp's strategic objective of allocating around 40% of its net annual investment to opportunities related to the energy transition and to projects that contribute to the overall reduction of CO2 emissions.
About the Hydrogen Council
The Hydrogen Council is a CEO-led organisation that uses its global reach to promote collaboration between governments, industry and investors, and to provide guidance on accelerating the deployment of hydrogen solutions around the world. The Council acts as a business marketplace, building a comprehensive hydrogen economy and shifting the perception of hydrogen globally. In addition, the Hydrogen Council serves as a resource for safety standards and an interlocutor for the investment community, while identifying opportunities for regulatory advocacy in key geographies. The coalition of 81 members including large multinationals, innovative SMEs and investors collectively represents total revenues of over €18.7 trillion and close to 6 million jobs around the world. To find out more visit www.hydrogencouncil.com and follow us on Twitter @HydrogenCouncil.
Galp is a publicly held, Portuguese-based energy company, with an international presence. We develop efficient and environmentally sustainable solutions throughout all stages of the energy sector's value chain, in our operations as well as in the offering we provide to our clients, whether companies from all industries, or regular consumers looking for the most flexible solutions for their home and mobility needs. We prospect and extract oil and natural gas from reservoirs located miles underneath the oceans, but we also commit to dedicating 40% of our investment to projects that contribute to reduce global CO2 emissions, including renewable energy production plants. Our offerings combine all types of energy, from electricity to gas and liquid fuels. We also contribute to the economic development of the 11 countries where we operate and to the social progress of the communities that welcome us. Galp employs 6,360 people.