Ineos plans $ 2.3 billion investment in green hydrogen production
Ineos, the UK plastics, oil and gas conglomerate, has announced plans to step up production of green hydrogen across Europe with an investment of $ 2.3 billion. The company – best known in the maritime world for the slogan “Shale Gas for Progress” on its LNG carriers – has announced that it will build new electrolysis plants to produce zero carbon green hydrogen in Norway, Germany and in Belgium over the next ten years. .
The investment would be Europe’s largest commitment to green hydrogen electrolysis, and it has the potential to transform hydrogen production to zero carbon across the continent. Through its European subsidiary Inovyn, which operates electrolysis manufacturing plants to make chlorine, Ineos is the continent’s largest operator of electrolysis – the technology needed to produce green hydrogen. The company also has extensive experience in the storage and handling of hydrogen for industrial purposes.
“Green hydrogen represents one of our best chances of creating a more sustainable, low-carbon world. Europe is calling for more investment in green hydrogen and INEOS’s announcement shows our determination to play a leading role in this important new fuel, ”said Jim Ratcliffe, President of Ineos.
Pétchem is a major industrial consumer of hydrogen and its own operational units will be among the first customers. Its first plant will be a 20 MW electrolyser in Norway, and it will lead to a minimum reduction of 22,000 tonnes of CO2 per year by reducing the carbon footprint of Ineos’ operations at Rafnes. The company says it will also serve as a hub to supply hydrogen to the Norwegian transport sector.
Next, Ineos plans to build a larger scale 100 MW electrolyser to produce green hydrogen at its Cologne site in Germany. The unit’s hydrogen will be used to produce green ammonia, a future leading fuel candidate for the shipping industry.
According to Ineos, the Cologne project will reduce carbon emissions by around 120,000 tonnes per year. It will also open up opportunities to develop E-Fuels through industrial scale methanol power generation applications.
“As hydrogen becomes available for zero carbon transportation as well as for many applications in the home and industry, Ineos is uniquely positioned to support new opportunities, driven by the emerging demand for zero energy sources. affordable carbon, ”said Wouter Bleukx, Inovyn Hydrogen Business Manager.
The company says it is developing other projects in Belgium, France and the UK, and more announcements are expected soon.
The views expressed here are those of the author and not necessarily those of The Maritime Executive.