Aramco and PTT team up on green and blue hydrogenMay 19, 2022
The Saudi Arabian and Thai energy companies will also collaborate on liquid natural gas.
Saudi Aramco, the Saudi Arabian oil and gas giant will be collaborating on liquid natural gas, green and blue hydrogen with PTT, the state-owned energy company from Thailand.
The goal of the collaboration is to strengthen their cooperation in a spectrum of energy projects.
Saudi Aramco and PTT will cooperate in a spectrum of clean energy initiatives. While it will include liquid nitrogen gas (LNG), which is a fossil fuel, they will also be focusing on green and blue hydrogen.
Green H2 is a form produced using water electrolysis powered by renewable electricity such as solar and wind energy. On the other hand, blue H2 is produced using processes that are powered by natural gas, followed by carbon capture and storage methods to minimize the resulting greenhouse gas emissions.
Aramco and PTT are both seeking to solidify the collaborations throughout crude oil sourcing as well as the marketing of refining and petrochemical products in addition to LNG. Therefore, both of the energy companies have signed a memorandum of understanding (MoU) to pursue the cooperation together. The signing occurred in Bangkok at a ceremony that took place on May 11.
The signing of the LNG, green and blue hydrogen MoU took place as Aramco broadens its Asian presence.
“Today represents an important step forward as we deepen and broaden this relationship to achieve greater cooperation across a wide range of activities, from sourcing crude oil and marketing refining and petrochemical products and LNG, to exploring blue and green hydrogen and progressing other clean energy initiatives,” said Saudi Aramco Vice President Ibrahim Al-Buainain.
“Today marks a significant milestone for PTT and Aramco as we look to the future and extend our collaboration beyond conventional energy. It also reflects our ongoing commitment to security of supply as we embrace the energy transition,” added PTT CEO Auttapol Rerkpiboon.
“Extending our collaboration across the value chain to include emerging decarbonization initiatives is a great opportunity to strengthen our relationship and foster further business growth,” said Senior Executive Vice President Disathat Panyarachun. “This also aligns with our ‘green and clean’ strategy which aims to reduce greenhouse gas emissions,” in a news release about the green and blue hydrogen collaboration.