Various Countries Procurement News Notice - 69658


Procurement News Notice

PNN 69658
Work Detail OMV Petrom, the largest integrated energy producer in Southeast Europe, has announced a substantial investment of approximately EUR 750 million at its Petrobrazi refinery. This strategic move aims to transform the refinery into the region’s first major producer of sustainable fuels. The company has finalized its decision to construct a SAF/HVO facility, along with two green hydrogen production units to be used in biofuel production. Christina Verchere, CEO of OMV Petrom, stated, “We are moving forward with our transformation. In addition to our new renewable power projects, today we have taken a decisive step towards decarbonizing transport in Romania. By 2030, we’re committing EUR 11 billion to transform the company for a lower carbon future, both in Romania and the region.” Radu Caprau, OMV Petrom Executive Board Member responsible for Refining and Marketing, added, “Together with electro-mobility, biofuels are the answer to low carbon transport, and we expect a gradual increase in demand for these products. Thanks to the investments announced today, we will be able to replace imports with biofuels produced here in Romania. For our customers, this means product certainty and less carbon emissions. We aim to continue being our customers’ first choice by offering them the products they need.” SAF/HVO Production Facility The investment for the SAF/HVO unit amounts to EUR 560 million. The plant will have a production capacity of 250 kt/year of SAF and HVO, as well as by-products like bio-naphtha and bio-LPG, used in the chemical industry. The high flexibility of the installation allows for adjustments to the product mix based on market demand and available feedstock. The plant will consume approximately 11 kt of hydrogen annually, most of which will be supplied by the new green hydrogen production units. Green Hydrogen for Sustainable Fuels The investment for the two green hydrogen units is estimated at EUR 190 million, with up to EUR 50 million coming from European funds through the National Plan for Recovery and Resilience (NPRR). OMV Petrom and the Ministry of Energy signed the financing contracts earlier this year. The two units will have a total capacity of 55 MW, producing about 8 kt of green hydrogen annually. Integrating green hydrogen into sustainable fuels, such as sustainable aviation fuel and renewable diesel, will result in at least a 70% reduction in CO2 emissions compared to conventional fuels. Petrobrazi is the first refinery in Romania certified to produce SAF and HVO through the co-processing of biological raw materials. To ensure a reliable source of raw materials for biofuel production, OMV Petrom has acquired a 50% stake in “Respira Verde,” a leader in the collection of used cooking oil in Romania. “Respira Verde” collects up to 10 kt of used edible oil per year from sectors such as the hospitality industry and retail.
Country Various Countries , Southern Asia
Industry Energy & Power
Entry Date 17 Jun 2024
Source https://solarquarter.com/2024/06/17/omv-petrom-invests-eur-750-million-in-petrobrazi-to-become-southeast-europes-first-major-producer-of-sustainable-fuels/

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