The Norwegian oil and gas giant, Equinor, has inked a bilateral agreement with the German utility RWE to supply between 10 and 15 TWh (equivalent to 1 to 1.5 bcm/year) of natural gas annually. Priced at market rates, the gas is set to be delivered to Germany's virtual trading hub, Trading Hub Europe (THE). Last January 2023, Equinor and RWE signed a Memorandum of Understanding (MoU) to jointly develop extensive value chains for low-carbon hydrogen in both Germany and Norway. The partnership's vision encompasses the transition from coal-fired power plants to hydrogen-ready gas-fired plants in Germany and the establishment of low-carbon and renewable hydrogen production in Norway. This produced hydrogen is intended for export via pipeline to Germany. While there's momentum towards phasing out coal with the introduction of new hydrogen-ready power plants in Germany, these plants should rely on natural gas until large-scale hydrogen production is achieved.