Page 25 - EurOil Week 09 2023

EurOil ENERGY TRANSITION EurOil

BP launches hydrogen cluster in

Valencia region

SPAIN BP has launched the HyVal project at its Cas- per year (tpy), by 2030. Green hydrogen will
tellón refinery in Valencia, Spain. It is a pub- also be used as a raw material in biofuel pro-
BP aims to build up to lic-private partnership led by BP that aims to duction, especially for sustainable aviation fuel
2 GW of electrolysis build up to 2 GW of electrolysis capacity by 2030 (SAF).
capacity by 2030. for making green hydrogen at BP’s refinery. Initially the electrolyser will have a capacity of
HyVal is expected to help reduce the carbon at least 200 MW and will be operational by 2027.
emissions of bp’s Castellón refinery. Its transfor- This initial stage would be expected to produce
mation – including green hydrogen, biofuels and up to 31,200 tpy of green hydrogen.
renewable energy – could involve bp investing Andrés Guevara, president of BP Energía
up to €2bn ($2.1bn) in Castellón by 2030. Cas- España, said: “We see Hyval as essential to Cas-
tellón Refinery is a 26-MW gas-fired power tellón’s transformation and vital to supporting
station. decarbonisation across the Valencia region.“
Green hydrogen – made by splitting water He added: “We aim to build up to 2 GW of
using renewable power – will help lower the car- electrolysis capacity by 2030 for green hydrogen
bon footprint of the refinery’s operations, replac- production, helping lower the carbon emissions
ing its current use of ‘grey’ hydrogen made from of our operations and customers. And we plan to
natural gas, said the oil and gas supermajor BP. triple the refinery’s production of biofuels to help
The refinery’s production of biofuels is meet the growing demand for lower carbon fuels
expected to grow threefold, to 650,000 tonnes such as SAF.” ™

PROJECTS & COMPANIES

Ignitis calls for energy groups to donate

10% of windfall profits to Ukraine

EUROPE IGNITIS has launched a public appeal to more TotalEnergies, saying that oil and gas groups as
than 50 energy companies in the US and Europe well as utilities had earned hundreds of billions
Ignitis has made the to donate one tenth of their windfall profits to of dollars in extra profits following Russia’s full-
appeal to more than 50 Ukraine, the Financial Times reported. scale invasion of Ukraine a year ago. The war has
energy companies. Energy companies such as ExxonMobil, led to a spike in both natural gas and electricity
Shell and BP should donate directly to Ukraine prices.
because they earned them as a result of Russia’s The Baltic countries have been at the fore-
war, according to a proposal from Lithuania’s front of efforts to push European and US policy-
largest utility. makers to toughen sanctions against Russia and
Darius Maikstenas, chief executive of Ignitis support Ukraine. Public appeals in Latvia and
Group, launched a public appeal to more than Lithuania have led to donations of drones and
50 energy groups in the US and Europe to fol- other military equipment. But Ignitis’s proposal
low its lead after the listed Lithuanian company is the most concrete corporate action from the
said it would ask its annual meeting for approval region so far.
to pay about 10% of its extra profits from 2022, Ignitis, which listed in Vilnius in 2020, is part
or €12mn, to help rebuild Ukraine’s energy of Lithuania’s efforts to maintain its energy inde-
infrastructure. pendence from Russia as the Baltic state tries to
“We urge you to follow suit and earmark part boost its domestic electricity production.
of your 2022 profits for Ukraine. We believe Some countries such as the UK have intro-
sharing profits with the country that is suffer- duced a windfall tax on oil and gas companies
ing the consequences of the war that has led to and utilities after many of them recorded record
those profits is morally the right thing to do,” said profits in 2022. Energy majors such as BP, Shell,
Maikstenas. ExxonMobil and Equinor posted combined net
The appeal was sent to companies includ- profits of more than $200bn last year, the FT
ing Chevron, ConocoPhillips, Equinor and said.™

Week 09 03•March•2023 www. NEWSBASE .com P25