OMV AG - Testing the installation is part of the ConsenCUS international project, financed by the European Commission through the Horizon 2020 program
- The tests will be conducted over a period of four months, starting June
OMV Petrom, the largest integrated energy producer in Southeastern Europe, will test a new carbon capture and utilization technology at the Petrobrazi refinery, starting June. The tests are part of a demonstration campaign carried out in three countries - Denmark, Romania and Greece, within an innovation project financed with European funds - ConsenCUS.
Radu Căprău, member of OMV Petrom Executive Board, responsible for Refining and Marketing: "We want to actively contribute to the decarbonization of transport in Romania and we have two clear directions: lower the emissions of the Petrobrazi refinery and develop products with a low and zero carbon content for our customers. We now have the opportunity to test a new technology through which we capture the refinery's carbon emissions and turn them into widely used chemical products."
The plant consists of three units. The first captures CO2 through a more efficient technology than traditional methods. In the second unit, high purity CO2 is obtained and finally the third unit transforms CO2 into a chemical product, potassium formate, with multiple uses, such as the production of synthetic fuels.
The installation was successfully tested in Denmark at a cement plant. From Romania, the installation will head to Greece, to a magnesium production plant.
ConsenCUS, which started in 2021, is a 4-year innovation project funded by the European Commission through the Horizon 2020 program. The project aims to demonstrate the viability of a new technology applicable to sectors where reducing carbon emissions is difficult.
The project is run by a consortium of 19 leading research institutions and innovative companies: University of Groningen (NL), New Energy Coalition (NL), Wetsus (NL), Coval Energy (NL), Technical University of Denmark (DK), Geological Survey of Denmark and Greenland (DK), Danish Gas Technology Centre (DK), Aalborg Portland (DK), Heriot-Watt University (UK), Robert Gordon University (UK), Net Zero Technology Centre (UK), British Geological Survey (UK), Centre for Research and Technology Hellas (GR), Grecian Magnesite (GR), OMV Petrom, Energy Policy Group (RO), Zhejiang University (CN), Shanghai Jiao Tong University (CN) and University of Calgary (CA).
You can watch a video about this technology here.
About OMV Petrom
OMV Petrom is the largest integrated energy producer in Southeastern Europe, with an annual Group hydrocarbon production of approximately 41 million boe in 2023. The Group has a refining capacity of 4.5 million tons annually and operates an 860 MW high-efficiency gas-fired power plant. The Group is present on the oil products retail market in Romania and neighbouring countries through approximately 780 filling stations under two brands - OMV and Petrom.
OMV Petrom is a company in which, as of end-2023, Romanian shareholders hold over 43% of the shares (of which the Romanian state, through the Ministry of Energy, holds 20.7%, and 22.5% are owned by pension funds in Romania, to which are added almost 500,000 individual investors and other Romanian entities). OMV Aktiengesellschaft, one of the largest listed industrial companies in Austria, holds a 51.2% stake in OMV Petrom, and the remaining 5.6% are held by other foreign investors. Of the total shares of OMV Petrom, 28.1% represents the free float on the Bucharest Stock Exchange. OMV Petrom is one of the largest contributors to the state budget, with approximately 42 billion euro in taxes and dividends paid between 2005 and 2023. During the same period, the company invested approximately 18 billion euro. Since 2007, OMV Petrom has included corporate responsibility principles into its business strategy. Between 2007 and 2023, the company has allocated around 160 million euro to develop communities in Romania, focusing on environmental protection, education, health, and local development. On July 29th, 2020, OMV Petrom announced its support for the recommendations issued by the Task Force on Climate-related Financial Disclosures (TCFD) regarding risks and opportunities on climate change. OMV Petrom annually reports on the progress made in implementing these recommendations.
ConsenCUS is a 4-year international Innovation Action under the Horizon 2020 framework of the EU, under grant agreement No 101022484. It is performed by 19 consortium partners from 7 EU countries. It investigates how electrochemically driven carbon capture and conversion innovations can combine with safe transport and/or storage through economically viable networks and clusters, with specific attention for the interaction of local communities with the technological developments.
More information:
Website: www.consencus.eu
Video: About ConsenCUS - YouTube
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OMV AG published this content on 23 April 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 April 2024 11:16:10 UTC.
