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Asia too alluring for Middle East oil producers to drop the ball on hydrogen
The fast-changing energy need of Asian oil importers is prompting Middle Eastern oil producers to accelerate their hydrogen efforts to ensure they can supply both oil and hydrogen to their biggest customers, a strategic push to prevent losing out a part of their future business to potential exporters like Australia.
With Asia accounting for more than 80% of Middle East’s overall crude exports, top oil producers are not only looking for opportunities to send in trial shipments of ammonia to Asia, they are also looking at signing cooperation deals with clearly one intention if any Asian customer needs both oil and hydrogen in the future, they want to be ready to supply both.
Aramco, HHIH team up on blue hydrogen, ammonia
LONDON, 14 days ago Saudi Aramco has signed a non-binding memorandum of understanding (MoU) with Hyundai Heavy Industries Holdings (HHIH) for research and development on blue hydrogen and ammonia. Through the non-commercial agreement, the two parties are seeking an opportunity to find a cooperational model for eco-friendly hydrogen and ammonia, including joint research and development. Hyundai Oilbank, the oil refinery unit of HHIH, plans to cooperate with Saudi Aramco on the realisation of a “carbon zero” process, and Korea Shipbuilding and Offshore Engineering (KSOE), the shipbuilding unit of HHIH, plans to develop the world’s first combined ship capable of carrying both liquefied petroleum gas (LPG) cargoes and captured carbon dioxide (CO2).
Author: Richard Ewing
2021/03/08 LONDON (ICIS) Saudi Aramco has confirmed its non-binding memorandum of understanding (MoU) with Hyundai Heavy Industries Holdings (HHIH) on blue hydrogen and ammonia is a research and development opportunity, not a commercial agreement. Through the agreement, the two parties are seeking an opportunity to find a co-operational model for eco-friendly hydrogen and ammonia, including joint research and development. Hyundai Oilbank, the oil refinery unit of HHIH, plans to cooperate with Saudi Aramco on the realisation of a “carbon zero” process, and Korea Shipbuilding & Offshore Engineering (KSOE), the shipbuilding unit of HHIH, plans to