01:53 PM EDT, 09/23/2024 (MT Newswires) -- Shell (SHEL) is no longer building a low-carbon hydrogen plant on Norway's west coast due to a lack of demand, Reuters reported Monday, citing a company spokesperson.

"We haven't seen the market for blue hydrogen materialize and decided not to progress the project," the company's spokesperson reportedly told Reuters.

The oil company was partnering with Aker Horizons and CapeOmega to develop the Aukra Hydrogen Hub near its Nyhamna gas processing plant to produce 1,200 metric tons of blue hydrogen a day by 2030.

The company did not renew the partnership when it expired in June this year, according to the report, citing Shell's spokesperson.

Shell did not immediately respond to a request for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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