Colombia's Ecopetrol seals six hydrogen partnerships

Colombian oil producer Ecopetrol SA (NYSE:EC) has formed alliances with six international companies to strengthen its strategic plan for the development of low-carbon hydrogen with a view to produce 1 million tonnes per year by 2040.

The company said it conducted a partner selection process, which drew more than 80 companies from 16 countries. Six were selected -- power producers Total Eren and EDF SA (EPA:EDF) from France, Germany's Siemens Energy AG (ETR:ENR), Spanish electrolyser developer H2B2, UK IT services firm Empati, and Japan's Mitsui & Co Ltd. (TYO:8031).

Ecopetrol said that it will start working with the new partners in June. The goal is to define actions that will help Ecopetrol get the results from its hydrogen plan, and develop specific projects to decarbonise refineries, industry at large and mobility.

Ecopetrol’s hydrogen colour choice is green, blue and white. The group expects to invest close to USD 140 million (EUR 130.5m) on average per year by 2040 to achieve its hydrogen targets.

(USD 1.0 = EUR 0.932)

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