RIYADH: Saudi Aramco and Spanish energy company Repsol have agreed to jointly build a synthetic fuel plant in Bilbao, using the production technology developed by Johnson Matthey and BP, according to a statement.
The statement issued by Johnson Matthey revealed that the plant will be one of the world’s first to use renewable green hydrogen and carbon dioxide as its only raw materials.
Upon completion in 2024, the facility will have a production capacity of 2,100 tons per year.
According to the statement, the plant will produce a sustainable synthetic drop-in fuel that can be blended for existing road vehicle engines, planes and ships.
“Converting CO2 into synthetic, lower-carbon fuels can meaningfully contribute to the reduction of transport emissions and, through this strategic partnership, we aim to harness innovative technologies that can unlock the full potential of both sustainable fuels and chemicals — and demonstrate their competitiveness,” said Aramco Chief Technology Officer Ahmad Al-Khowaiter.
Adriana Orejas, director of Industrial Transformation and Deep Tech at Repsol said, “The development of Bilbao synthetic fuel, where sustainable synthetic fuel shall be produced, represents an important step on our commitment of being a Net Zero Emission company by 2050, aligned with the climate objectives set out in Paris by COP21.”