Equinor ASA (EQNR) shares are experiencing a decline today following the company's announcement that it will not proceed with its plans to build a hydrogen pipeline from Norway to Germany. The decision, made in collaboration with partner RWE, was attributed to a lack of customers and an inadequate regulatory framework. This move signals a significant shift in Equinor's strategy regarding hydrogen production and distribution, as the pipeline was intended to facilitate the transport of up to 10 gigawatts per annum of blue hydrogen to Germany. The discontinuation of this project has raised concerns about Equinor's future growth prospects in the renewable energy sector.
The current price of Equinor ASA (EQNR) is $23.93, reflecting a decrease of 2.60% from its previous close of $24.57.