PTT Global Chemical Public Company Limited (GC) signed a Memorandum of Understanding (MOU) with Mitsubishi Heavy Industries Asia Pacific Pte. Ltd. (MHI-AP) to jointly study the technologies required to develop a large-scale petrochemical complex that aims to support Thailand's Carbon Neutrality by 2050. This collaboration between GC and MHI-AP will involve the study of solutions that use low carbon fuels such as hydrogen and ammonia, as well as Carbon Capture and Storage technologies.

The MOU covers a total duration of 4 years and includes two main objectives to assess the feasibility of applying decarbonization technologies to GC's assets. The first is to conduct research to compare the feasibility of using hydrogen and ammonia as fuels for gas turbines, as well as CCS technologies to reduce carbon dioxide emissions from power generators. The second objective is to assess how CCS technologies can best be applied and optimized for the Steam-Methane Reforming (SMR) process.

MHI-AP will support this through providing carbon capture technologies as well as hydrogen combustion gas turbines and ammonia gas turbines. This collaboration is aligned with Thailand's announcement to achieve carbon neutrality by 2050 and with GC's operational strategies for robust and sustainable business growth alongside partners under the concept "Together to Net Zero", which aims to reduce greenhouse gas emissions by 20% by 2030 and achieve net zero greenhouse gas emissions by 2050.