Ineos and Petroineos say they will invest in their facilities at Grangemouth, UK, to reduce carbon dioxide (CO2) emissions from the integrated site by approximately 1 million metric tons/year (MMt/y) by 2027 as part of a wider proposed carbon capture and storage (CCS) and hydrogen development. The planned investment value was not given.
Ineos and Petroineos, a joint venture (JV) of Ineos and PetroChina, have signed a memorandum of understanding (MOU) with the developers of the Acorn CCS Project to work together to develop the first CCS system in Scotland. The investment at Grangemouth “will enable the capture and storage of approximately 1 MMt/y of CO2 by 2027, with the scope to capture further significant volumes beyond this date,” Ineos says.
Ineos owns and operates the petrochemical manufacturing site at Grangemouth, while Petroineos owns and operate an adjacent refinery. Since taking ownership in 2005, CO2 emissions at the overall Grangemouth site have been reduced by 37%, Ineos says. Once operational, the proposed CCS system “will further increase emission reduction at the site to more than 50% compared with 2005,” it says.
Roadmaps have been put in place for the Grangemouth site targeting transition to a net-zero economy by no later than 2045 “whilst remaining profitable, and staying ahead of evolving regulations and legislation,” according to Ineos. “Based on these roadmaps, we are setting ambitious but achievable targets for 2030, which are in line with our 2045 commitment in Scotland, which we expect to publish shortly,” it says.
“Ineos and Petroineos at Grangemouth recognize the importance of reducing greenhouse gas emissions from our industrial processes,” says Ineos Grangemouth chairman Andrew Gardner. “As one of Scotland’s largest manufacturers and employers, we acknowledge that we are operating a CO2-intensive industry and we have a significant role to play in helping Scotland reach its net carbon zero target by 2045.”
Existing partners in the Acorn project include lead developer Storegga, Shell, and Harbour Energy. The CCS project is in the detailed engineering and design phase, with plans to bring it online by the mid-2020s. The project is being funded and supported by the partners, along with the UK and Scottish governments and the EU.
by Mark Thomas
Source: chemweek.com
Neste Corporation’s Board of Directors has appointed Heikki Malinen, M.Sc. (Econ.), MBA (Harvard) as the President and CEO of Neste as of 2 November 2024, at the latest. Malinen joins Neste from Outokumpu Corporation where he has held the position of President and CEO since 2020.
Petrochemicals company Sasol has announced that CFO and executive director Hanré Rossouw will step down from his position, effective October 31. Sasol has started the process to appoint a successor. Rossouw will still oversee the publication of Sasol’s reports for the financial year ending June 30, to allow for a structured handover period.
Chemours announced its CFO Jonathan Lock has resigned from all positions within the company, according to an SEC 8-K filing on April 23. The resignation comes in the aftermath of the company announcing that Lock, former CEO Mark Newman, and principal accounting officer Camela Wisel, had been placed on administrative leave.
