The Catalyst Review April 2024 - 4

Commercial News
Aramco in Talks with US LNG Companies as
Gas Race with ADNOC Heats Up
Saudi Aramco is in talks with companies for liquefied natural gas
(LNG) projects in the US as it looks to the fuel for global growth
at a time when competitors in the region are also expanding in
the sector. The company will focus on LNG internationally and
look to use its gas output at home to produce blue hydrogen
and power, according to Chief Executive Officer Amin Nasser.
Aramco's push coincides with Abu Dhabi National Oil Co.
(ADNOC) seeking to boost its global presence with major deals
in chemicals and gas. While it looks for targets, the United Arab
Emirates and Qatar are also betting tens of billions of dollars on
expanding their own LNG export capacity. Source: Bloomberg,
3/10/2024.
Tecnimont Awarded New Petrochemical
Contract by Sonatrach in Algeria worth $1.1B
Maire announced that its subsidiary Tecnimont has been
awarded by Sonatrach an engineering, procurement,
construction and commissioning (EPCC) contract for a new
linear alkyl benzene (LAB) plant in the industrial zone of Skikda
(Algeria). The scope of the project entails the implementation of
a new LAB plant with a production capacity of 100,000 tons per
year. Source: Hydrocarbon Processing, 3/7/2024.
ACC Testifies at Public Hearing on
Implementation of Clean H2
Tax Credit
The American Chemistry Council (ACC) issued a statement
after a US Internal Revenue Service (IRS) and Department
of the Treasury public hearing on the Section 45V Credit for
Production of Clean H2
per the Inflation Reduction Act (IRA). The
ACC urged the administration to consider several principles for
implementation of Section 45V and other IRA/BIL (Bipartisan
Infrastructure Law) programs. These include support for diverse
sources and processes, including all types of lower-emissions
H2
technologies; regulatory certainty for timely investment
decisions; access to infrastructure, feedstocks, and innovative
chemistries; a clear pathway from investment decision to
permitting and operations; and complementary policies for
building out a lower-emissions electric grid. Source: H2Tech
News, 3/27/2024.
Germany Launches Subsidy Auctions Worth
Billions to Help Heavy Industry Transition
Germany has started the first bidding process for a 'climate
contracts' funding programme worth up to €4B, wherby
EU emissions trading system (EU ETS)-covered energyintensive
firms can apply for 15-year funding for large green
transformation projects. Soruce: Carbon Pulse, 3/12/2024.
4
The Catalyst Review
April 2024
Production
ExxonMobil Files Arbitration Case for
Guyanese Oil Field Rights
Exxon Mobil Corp. filed for arbitration to retain pre-emption
rights in a giant Guyanese oil field, threatening Chevron Corp.'s
attempt to acquire a stake via its pending $53B takeover of
Hess Corp. ExxonMobil, as 45% owner and operator of the
Guyana project, believes it has a right of first refusal over
any change of hands in Hess' 30% stake and would consider
matching Chevron's valuation. Source: World Oil, 3/6/2024.
ADNOC Closes Acquisition of 24.9% Stake
in OMV
Abu Dhabi National Oil Company (ADNOC) announced that
it has formally closed the acquisition of a 24.9% shareholding
in OMV AG, a global energy and chemicals group,
headquartered and listed in Vienna, Austria, from Mubadala
Investment Company. Following the successful completion
of the transaction, ADNOC owns 24.9% of OMV, while
Österreichische Beteiligungs AG, an Austrian independent
holding company, holds 31.5%, with the remaining share capital
in free float. Through this strategic investment in OMV, ADNOC
has increased its shareholdings in both Borealis AG and
Borouge, further bolstering its footprint in the chemicals sector.
Source: Hydrocarbon Processing, 2/29/2024.
IAG Signs 14-year e-SAF Purchase
Agreement with Twelve
International Airlines Group (IAG) announced its largest
sustainable aviation fuel (SAF) purchase agreement to date,
with e-SAF (power-to-liquid) producer Twelve, which will supply
advanced e-SAF made from CO2
, water and renewable energy.
Under the terms of the 14-year contract, Twelve will supply IAG
with 785,000 tonnes (260 million gallons) of e-SAF to support
its five European airlines (British Airways, Iberia, Aer Lingus,
Vueling and LEVEL). IAG is the first European airline group to
announce an e-SAF deal. This deal brings the scale-up of e-SAF,
produced using power-to-liquid technology, one step closer to
reaching its full potential in the aviation industry. Source: Green
Car Congress, 2/29/2024.
The Catalyst Review April 2024

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