Belgian gas transmission system operator Fluxys plans to invest €2 billion ($2.19 billion) in hydrogen pipelines by 2033, nearly tripling its initial budget of €700 million ($764m) for the previous 9-year investment plan.

CEO Pascal De Buck told local newspapers De Tijd and L’Echo on Monday, August 12, that the increased spending is part of a broader €5.9 billion ($6.4b) investment plan for Belgium through 2033, with a focus on carbon capture and storage infrastructure. Sustainable projects will account for more than 80% of the total investment.

Fluxys aims to transport 30 terawatt-hours of hydrogen and 30 million tons of carbon dioxide by 2030. The company will make final investment decisions by next year.

Last year, the gas grid operator began building 97 kilometers of hydrogen-ready gas pipelines at an estimated cost of €300 million ($327m). This summer, its subsidiary, Fluxys Hydrogen, was appointed Belgium’s H2 network operator.

De Buck emphasized the need for government support, citing Germany’s mechanism for guaranteeing cash flow and return on pipeline investments. While the Belgian government approved €250 million ($273m) in subsidies for hydrogen pipelines, Fluxys has only secured €95 million ($103m) for initial projects.

The CEO also expressed concerns about strict EU regulations on renewable hydrogen, warning that they could hinder clean hydrogen infrastructure development. He defended the company’s investments outside Belgium, arguing that it strengthens Fluxys’ position in the hydrogen market.