Today marks the deadline for the submission of bids in Bulgarian oil refinery Lukoil Neftochim Burgas’ public tender for a
Today marks the deadline for the submission of bids in Bulgarian oil refinery Lukoil Neftochim Burgas’ public tender for a green hydrogen production feasibility study.
The refinery—a subsidiary of Russian company Lukoil and one of the largest companies in southeastern Europe by revenue—is looking to expand its green energy production capabilities in a notable departure from its primary oil and natural gas refining ventures.
Expect the refinery’s initial efforts to focus on upgrading the capabilities of its more environmentally friendly thermal power plant (TPP). Lukoil has announced that it plans to spend $211 million on TPP improvements by 2024, including new boilers by the end of this year and new turbines in 2022. As green hydrogen production is still a nascent industry with exorbitant costs expect Lukoil’s green energy production to focus on green TPP until technology improves.
These ventures mark the latest effort by European organizations to expand green hydrogen energy capabilities, following the European Investment Bank’s decision to provide funding and consulting to Hydrogen Europe. As Europe pushes to combat climate change in its energy and transportation sectors, expect similar efforts by oil and gas producers, though change will likely be slow to materialize.
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