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Spanish Repsol invests USD2.96 billion in renewable hydrogen value chanin by 2030

October 18/2021

MOSCOW (MRC) -- Spanish oil and gas company Repsol says it will invest EUR2.549 billion (USD2.958 billion) in the entire hydrogen value chain by 2030, according to Offshore Energy.

Renewable hydrogen is one of Repsols strategic pillars to achieve zero emissions by 2050. Thus, the company presented its hydrogen strategy for up to 2030.

Its goal is to become the market leader in the Iberian Peninsula. It also wants to position itself as a relevant producer in Europe. By 2030, the company additionally plans to have an equivalent installed capacity of 1.9 gigawatts. That is why it is planning all this investment.

Repsol said it will use different technologies to reach its renewable hydrogen production targets. These include electrolysis, biogas production, and photoelectrocatalysis. The last is a proprietary technology developing since 2018 with Enagas as a partner.

The plans will kick off with a demonstration plant in 2025. If successful, this will give Spain a leading technological position in the new H2 value chain, Repsol thinks.

As MRC reported earlier, Repsol and Portugal's EDP have just signed an agreement to jointly develop renewable hydrogen projects in the two countries. The companies plan to develop projects in Asturias and the Basque Country in Spain, and Sines in Portugal.

We remind that the Cracker of the Future consortium has announced two new member companies: Repsol and Versalis (Eni) have recently joined the consortium.

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.

Repsol is headquartered in Madrid, Spain. In the 2020 Forbes Global 2000, Repsol was ranked as the 645th-largest public company in the world. It has more than 24,000 employees worldwide. Its products are distributed in nearly 100 countries to around 24 million customers. Repsol Industrial Complex in Sines is the largest chemical site in Portugal.
Author:Margaret Volkova
Tags:PP, PE, propylene, ethylene, gas processing, petrochemistry, recikling, Repsol, Spain, Portugal.
Category:General News
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