Petrobras plans to enter the green hydrogen business

The state oil company of Brazil, Petrobras, would act hand in hand with the chemical company Unigel

Petrobras has signed a two-year non-binding confidentiality agreement with chemical company Unigel to discuss the possibility of entering into joint ventures for the development of projects related to green hydrogen and other low-carbon opportunities.

In a statement issued this Tuesday, the Brazilian oil company explained that the start of these conversations with Unigel is part of its 2024-2028 Strategic Plan.

After the technical analysis process, the projects that arise from this agreement will have official cost and return estimates and will be taken into consideration by the company’s internal bodies, as established by its governance policy.

Unigel is known for carrying out the first green hydrogen industrial-scale production and distribution initiative in Brazil, which is estimated to begin full operation in 2027, with a production capacity of 100,000 tons per year.

Founded in 1966, Unigel is strategically located in Brazil and has a leadership position that consolidates it as one of the largest chemical companies in Latin America and the largest manufacturer of nitrogenous fertilizers in Brazil.

As explained by the company, the agreement with Petrobras is in line with its strategic vision of promoting investments that allow the decarbonization of its operations, while providing solutions to the industry.

Source: dpa

(Reference image source: Consell de Mallorca, Europa Press / dpa)

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