Market Chatter: Sinopec to Construct Green Hydrogen, Ammonia Project in Saudi Arabia

MT Newswires Live

08/27

China Petroleum & Chemical or Sinopec (HKG:0386, SHA:600028) will partner with Saudi Arabia's ACWA Power to construct the world's biggest integrated green hydrogen and green ammonia project in the Middle Eastern kingdom, Reuters reported Wednesday.

Sinopec's project in Saudi Arabia is forecast to produce 400,000 metric tons of green hydrogen and 2.8 million tons of green ammonia yearly through the use of wind and solar power, the report said.

Commercial operations are scheduled to start in 2030, the report said, citing the oil company.

Sinopec Engineering will perform front-end engineering design and convertible engineering, procurement, and building for the project.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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