Asia

To co-develop green hydrogen for ammonia production

• Agreements aim to accelerate downstream strategy and development of low-carbon energy solutions
• Initial plans include a 60,000 ton-per-year casting and forging facility in Saudi Arabia

The Saudi Arabian Oil Company (“Aramco” or “the Company”) today announced the signing of one agreement and nine Memoranda of Understanding (MoUs) with leading Korean entities, which aim to advance its downstream strategy and support development of low-carbon energy solutions, while creating new financing options for the Company.

• Abu Dhabi National Oil Company (ADNOC) announced as TechX Strategic Partner following unveiling of the UAE’s Net Zero by 2050 Strategic Initiative
• Accelerator programme offers expert tutoring, technology support and a grant of up to £100K for 12 clean energy start-ups

The Net Zero Technology Centre has today [18 January] announced Abu Dhabi National Oil Company (ADNOC) as an additional TechX Strategic Partner. ADNOC, alongside bp and Equinor, will actively contribute to the accelerator programme and offer pioneering start-ups access to technology experts and the potential for field trials.

HIGHLIGHTS

• Elixir executes MOU with Mongolia Green Finance Corporation to support project finance for a green hydrogen pilot – the first phase of its “Gobi H2” project
• Legal analysis delivered to Mongolian Government under MOU with Ministry of Energy
• Expert water advisory services procured and potential water sources for project identified
• Confirming bankability of renewable power inputs

Elixir Energy Limited (“Elixir” or the “Company”) is pleased to announce progress on multiple fronts for its Mongolian based green hydrogen project. The Company has named this the “Gobi H2” project and is applying for a Mongolian trademark for the name.

SINGAPORE — Gen X Energy enters into a joint venture with ACE Enexor Inc., a subsidiary of AC Energy Corp., to develop Batangas Clean Energy, Inc.’s (“BCE”) 1,100 MW combined cycle power plant project.

• The cost of green hydrogen could fall to around US$1.40 to US$2.30 per kg by 2030 from US$6 recently, according to Shell Hydrogen
• China has prioritised hydrogen as an emerging industry under its 14th five-year plan

Green hydrogen, the expensive clean energy, could get cheaper by as much as three-fourths over the next decade as China cranks up investments for clean energy under its long-term climate-change commitments.

Ahmedabad: Reliance Industries Limited (RIL) signed MoU today with the Government of Gujarat for a total investment of Rs 5.955 lakh crore as part of Investment Promotion Activity for Vibrant Gujarat Summit 2022. These projects will create 10 lakh direct/ indirect employment opportunities in the State.

Editors Synopsis:

• MoU for Comprehensive Cooperation to strengthen high-grade steel market position and enhance capability in response to carbon reduction requirements.
• Group-level cooperation across sectors like Integrated Steel Mill, raw material, renewable energy, hydrogen, logistics, and other businesses.

Ahmedabad: POSCO and the Adani Group have agreed to explore business cooperation opportunities, including the establishment of a green, environment-friendly Integrated Steel Mill at Mundra, Gujarat, as well as other businesses. The investment is estimated to be up to USD 5 Billion.

NEW DELHI/ MUMBAI: Industry body India Hydrogen Alliance (IH2A) has made submissions to the Government of India for budgetary support for creation of 10 National BharatH2 Clusters, a USD 1 bn Hydrogen Economy Development Fund (HEDF) and a Public-Private Hydrogen Taskforce, in the Union Budget for 2022-23.