16-05-2023
Samsung Engineering and OMV sign MoU to jointly develop sustainable projects
Samsung Engineering, one of the world’s leading engineering, procurement, construction, and project management (EPC&PM) companies and OMV, the international, integrated energy, fuels & feedstock and chemicals & materials company, announced today the signing of an MoU to cooperate on projects from the early development stage. The MoU was signed at the OMV headquarters in Vienna, Austria, by Martijn van Koten, Member of the Executive Board of OMV and EVP Fuels & Feedstock, and Hong Namkoong, President and CEO of Samsung Engineering. Alfred Stern, Chairman of the Executive Board and CEO of OMV, as well as Reinhard Florey, Member of the Executive Board and CFO of OMV welcomed Samsung Engineering’s delegation.
Samsung Engineering’s extensive experience in executing projects based on modularization was key factor for reaching this MoU.
OMV, is amongst Austria’s largest listed industrial companies and is committed to becoming a net-zero emissions company (Scopes 1, 2, and 3) latest by 2050. OMV has embarked on a transformation to become a leading provider of innovative and sustainable fuels, chemicals and materials, with a focus on circular economy solutions.
This strategy is aligned with Samsung Engineering’s ambitions to contribute to the energy transition, by starting to take key initiatives for the decarbonization of its operations, whereby it has launched projects in the direction of low-carbon businesses. A major goal for Samsung Engineering is to become a “Beyond EPC - Green Solution Provider”. It is striving to transform from a conventional EPC player to a green solution provider by securing a reliable source of profits and creating a sustainable growth engine for the future. Samsung Engineering is pioneering into new businesses such as green solutions and environmental infrastructure projects.
Hong Namkoong, President and CEO of Samsung Engineering said “Samsung Engineering’s excellent track record in modularization projects has led to this MoU to jointly develop sustainable projects based on modularization. In the era of the energy transition, the strategy of OMV and Samsung Engineering align to create synergy effects to promote and strengthen the foundation for mid to long-term sustainable projects.”
Martijn van Koten, Member of the Executive Board of OMV responsible for Fuels & Feedstock said “Strong partnerships with pioneers for sustainable solutions and projects in the low carbon business help accelerate our transformation towards our goal of reducing CO2 emissions and becoming a net-zero company by 2050. We welcome the collaboration with Samsung Engineering. This will enable us to continuously expand our renewable fuels and feedstock product range and fulfill one of the key elements of our OMV Strategy 2030 to become a leading, innovative producer of sustainable fuels and feedstock in Europe.”
News Category:
-
Mitsui to invest in renewable diesel and SAFproduction business in Portugal
Mitsui & Co Ltd, has agreed to invest in a renewable diesel (hydrotreated vegetable oil/HVO) and sustainable aviation fuel (SAF) production business operated by Galp ...
25-09-2023
-
KBR awarded project management contract for Pluto LNG
KBR announced today that it has been awarded an engineering, procurement and construction management (EPCm) contract by Woodside Energy, as operator for and on behalf ...
25-09-2023
-
QatarEnergy award Worley FEED contract for CO2 sequestration project in Ras Laffan
We’re providing front-end engineering design (FEED) services for QatarEnergy LNG's CO2 sequestration project in Ras Laffan, Qatar. Our team will develop the FEED ...
25-09-2023
-
ORLEN partner with Yokogawa to develop cutting-edge technology for SAF production
ORLEN and Yokogawa Europe, the regional headquarters for Japan’s Yokogawa Electric Corporation, announce they have joined forces to initiate industrial-scale production ...
22-09-2023
-
Port Arthur LNG Phase 2 receives federal energy regulatory commission authorization
Sempra Infrastructure, a subsidiary of Sempra, today announced that the Federal Energy Regulatory Commission (FERC) has approved the permit authorizing the Port ...
21-09-2023
-
Svanehøj revamps safety instrumentation at Fos Cavaou and Konkan LNG
In the fast-paced world of LNG, maintaining infrastructure integrity is vital for operational efficiency and safety. Recognizing the need to modernize outdated safety ...
20-09-2023
-
Emerson’s new engineering software accelerates plant modernization using AI
Global technology and software leader Emerson is helping customers more quickly and efficiently transition legacy technology to modern DeltaV™ automation architecture ...
20-09-2023
-
ExxonMobil expands chemical production at Baytown
ExxonMobil today announced the startup of two new chemical production units at its Baytown, Texas, manufacturing facility. The $2 billion expansion is part of ExxonMobil’s ...
19-09-2023
-
New valve stem packing design from IMI CCI makes reducing fugitive emissions EEEasy-Seal™
With valves accounting for up to 70% of fugitive emissions (FE) from plants and refineries, tackling leakage is among the biggest obstacles to US industry achieving net ...
19-09-2023
-
Simple, flexible, accurate valve adjustment with bar-agturn®
The squaring of the circle does not have to be limited to the opening angle of 90° for shut-off valves, but other rotating angles can be individually set. The bar-agturn ...
15-09-2023