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US Phillips 66 partners with Plug Power to develop low-carbon hydrogen for its refinery operations

October 15/2021

MOSCOW (MRC) -- Phillips 66 has teamed up with Plug Power to develop low-carbon hydrogen and deploy that technology within the US oil refiners operations, reported Bloomberg.

Objectives include scaling low-carbon hydrogen in the industrial sector and increasing hydrogen fueling for transportation, the companies said Wednesday in a separate statement.

Under a memorandum of understanding (MoU), the companies will explore ways to deploy Plug Powers technology within Phillips 66s operations, they said in a statement on Wednesday.

Phillips 66 has also begun construction on green hydrogen production facilities in California, New York, Tennessee and Georgia that will ultimately supply 500 tonnes/day of liquid green hydrogen by 2025.

We believe hydrogen is an important pathway for hard-to-electrify industries in a lower-carbon energy landscape, said Heath DePriest, vice president of Phillips 66s Emerging Energy group, which is focused on building lower-carbon business platforms.

Green hydrogen is produced with renewable energy sources like solar or wind and can be used to power vehicles, ships or industry that traditionally burn fossil fuels. Its seen as a potential source of energy that could help the US and other nations reach their carbon-cutting goals and avoid the worst effects of global warming.

As MRC informed earlier, Phillips 66's 255,600-barrel-per-day (bpd) Alliance, Louisiana, refinery faces a monthslong shutdown for repairs following flooding from Hurricane Ida. Phillips 66 said it was still assessing the refinery and a timeline for operational restarts was not available. The sources said the company plans to complete its damage in late September next week when floodwaters fully recede. So far, the company still plans to restart the refinery, which in August it announced was up for sale.

We remind that US-based Phillips 66 remains open to developing another ethane cracker for its Chevron Phillips Chemical (CP Chem) joint venture, the refiner's CEO said in March 2018.

Ethylene and propylene are the main feedstocks for the production of polyethylene (PE) and polypropylene (PP), respectively.

According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 1,396,960 tonnes in January-July 2021, up by 7% year on year. Shipments of all grades of ethylene polymers increased. At the same time, PP shipments to the Russian market were 841,990 tonnes in the first seven months of 2021, up by 29% year on year. Supply of propylene homopolymers (homopolymer PP) and block-copolymers of propylene (PP block copolymers) increased, whereas supply of statistical copolymers of propylene (PP random copolymers) subsided.

Phillips 66 is a diversified energy manufacturing and logistics company. With a portfolio of Midstream, Chemicals, Refining, and Marketing and Specialties businesses, the company processes, transports, stores and markets fuels and products globally. Phillips 66 Partners, the companys master limited partnership, is integral to the portfolio. Headquartered in Houston, the company has 14,300 employees committed to safety and operating excellence. Phillips 66 had USD55 billion of assets as of Dec. 31, 2020.


mrcplast.com
Author:Margaret Volkova
Tags:crude and gaz condensate, propylene, ethylene, gas processing, petrochemistry, recikling, Chevron Phillips, Phillips 66, USA.
Category:General News
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