H2BE and INEOS have agreed preliminary commercial terms for the supply of low-carbon hydrogen from H2BE to INEOS Project One.

H2BE is the result of an agreement by ENGIE and Equinor to develop the production of low-carbon hydrogen from natural gas in Belgium. Under the terms of their agreement, the two companies are jointly exploring the market potential for the large-scale production of hydrogen from natural gas using auto-thermal reforming (ATR) technology combined with carbon capture and storage (CCS).

ATR technology enables decarbonisation rates above 95% and the large-scale production of hydrogen at competitive cost levels. A key aspect of the H2BE strategy involves transporting and storing the captured CO₂ in the Norwegian Continental Shelf in partnership with Belgian transmission and storage company Fluxys.

Project One represents the ambition of global chemical company INEOS to build the first zero- carbon steam cracker in Europe.

In a press statement, H2BE said that with the construction of the Fluxys hydrogen pipeline from Ghent to Antwerp largely complete, the “anchor agreement” establishes a commercial foundation for a planned hydrogen production of up to 210 kilotons every year. Further, the agreement supports the development of a broader low‑carbon ecosystem in Belgium and has received backing from the Flemish government and the EU.

The H2BE project may enable further investments across the value chain, including potential developments in hydrogen production and infrastructure. At the same time, CO₂ captured from H2BE will contribute to building sufficient volumes to underpin future investment decisions in a Belgian CCS hub.