22-05-2023
Petrobrazi refinery to produce green hydrogen
OMV Petrom obtained financing through NPRR to produce green hydrogen at the Petrobrazi refinery
OMV Petrom, the largest integrated energy company in Southeast Europe, announces the signing of a financing contract through the National Plan for Recovery and Resilience for the construction of a hydrogen production capacity by water electrolysis at the Petrobrazi refinery. The contract was signed with the Ministry of Energy, for a maximum value of about EUR 39 million, the total investment being estimated at about EUR 74 million.
Christina Verchere, CEO of OMV Petrom: "We believe that Romania has significant potential for the development of green energy projects, and the funds available to finance these projects open opportunities for the economic growth of the country. By the 2030 Strategy, we are committed to support the energy transition in Romania and in the region, with investments of around EUR 11 billion until the end of this decade, out of which approximately 35% will support low and zero carbon projects."
Radu Căprău, member of the OMV Petrom Executive Board, responsible for Refining and Marketing: “Green hydrogen opens new opportunities for a low carbon emissions economy. It will play an important role in decarbonizing refineries and in the sustainable transportation, whether we speak about road, railway, or air transport, being one of the solutions for the mobility of the future. We estimate that the hydrogen demand will increase significantly in Romania, especially in the next decade. We believe OMV Petrom has the opportunity to become the main integrated player on Romania’s hydrogen market.”
The project involves putting into operation, within the Petrobrazi refinery, a capacity of 20 MW for hydrogen production by water electrolysis. The entire process will be powered by renewable energy. This means that no CO2 emissions will be generated from the use of energy during water electrolysis, when the separation of oxygen and hydrogen molecules happens.
The volume of green hydrogen to be produced has been estimated at over 2,600 tons per year. The integration of the obtained green hydrogen will lead to a reduction of at least 70% of the CO2 emissions along the entire production value chain of sustainable fuels compared to conventional fuels.
In the next period, the company will start the public tender for the purchase of the electrolyzer, with the final investment decision to be made in 2024. Completion of the works is estimated for 2025.
News Category:
-
Beyond processbook & PI vision: Exploring today’s industrial analytics tools
(Webinar) - In the Manufacturing 4.0 era, industrial organizations have more data at their fingertips than ever, offering the promise of higher production rates, more ...
04-06-2024
-
Clariant launches new CATOFIN® 312 propane dehydrogenation catalyst
Clariant, a sustainability-focused specialty chemical company, today announced the launch of CATOFIN 312, its latest propane dehydrogenation catalyst. The new catalyst ...
16-04-2024
-
Yokogawa and GridBeyond conclude investment and strategic partnership agreements
Yokogawa Electric Corporation and energy IT solutions provider GridBeyond of Ireland announce that they have concluded a strategic partnership agreement. Furthermore, ...
16-04-2024
-
Heraeus Precious Metals launches Circlear
Heraeus Precious Metals, a globally leading company in the precious metals industry and one of the largest recyclers of precious metals, has introduced its new offering ...
16-04-2024
-
EMA and JERA to cooperate on LNG procurement and supply chains
The Energy Market Authority and JERA Co Inc, have signed a Memorandum of Understanding to cooperate on mutually beneficial areas in liquefied natural gas procurement ...
16-04-2024
-
Hexagon and Dragos unveil technical partnership to strengthen industrial cybersecurity
Hexagon’s Asset Lifecycle Intelligence division today announced a strategic partnership with Dragos, a global leader in cybersecurity for operational technology (OT). ...
16-04-2024
-
Radix partners with Cleopatra Enterprise to enhance project controls and turnaround management
Radix, a global technology solutions company, announced the signing of a partnership agreement with Cleopatra Enterprise, a leading project cost management software company. ...
16-04-2024
-
Rhône Energies in talks to buy Fos-sur-Mer refinery
Rhône Energies, a consortium of Entara LLC and Trafigura Pte Ltd, has entered into exclusive negotiations to acquire the Fos-sur-Mer refinery and the Toulouse and Villette ...
14-04-2024
-
Cenovus Energy to invest in Toledo and Lima refineries
Canada's Cenovus Energy said it will spend more than $1.5 billion on its 160,000 b/d Toledo and 185,000 b/d Lima refineries in Ohio over the next five years and expand ...
11-04-2024
-
Kent plays integral role in Fawley petrochemical complex
Kent, a leading global engineering and project management company, is proud to announce its significant involvement in ExxonMobil's £800m investment in its Fawley Petrochemical ...
11-04-2024