H2Terminals Limited and the London P&I Club have signed a Memorandum of Understanding (MoU) to explore and develop insurance solutions for the shipping of green hydrogen.
As informed, this partnership represents an advancement in H2Terminals’ efforts to introduce liquid hydrogen into the UK market through offshore production methods at Energy Island. This facility, located up to 100 kilometers offshore, will harness energy from wind, sun, and waves, and will involve the electrolysis and liquefaction of hydrogen on-site.
Over the next 12 months, the two companies will collaborate on:
1. Assessing H2Terminals’ specific insurance requirements
2. Evaluating risk factors unique to green hydrogen marine transportation
3. Developing a customised insurance framework
4. Creating best practices for insuring bulk liquid hydrogen transportation
Transportation of the hydrogen will utilize advanced LH2 carriers designed to hold liquid hydrogen in 50-ton spheres, powered by green hydrogen fuel cells. The distribution will be facilitated by power barges, which will deliver both liquid and gaseous hydrogen, electricity, and other essential byproducts.
Gerry Wilkinson, CEO of H2Terminals, highlighted the significance of the collaboration, stating that it represents a pioneering effort in green hydrogen shipping. He noted that combining cutting-edge transportation technology with comprehensive marine insurance will establish new standards in safety and reliability for clean energy shipping.
Meanwhile, An Gooch, CEO of the London P&I Club, emphasized the club’s commitment to sustainability and its role in facilitating innovative insurance solutions for this transformative technology in the shipping industry.
