Saudi Aramco, Hyundai Heavy Industries ink deal to cooperate on hydrogen project

03/03/2021 Argaam

Logo of Saudi Aramco

Hyundai Heavy Industries Holdings Co. (HHIH) signed a deal with Saudi Aramco to cooperate on a hydrogen project, Yonhap News Agency reported, citing a company statement.

 

Under the deal, Hyundai Oilbank Co. - its refining unit - will import liquefied petroleum gas (LPG) from Saudi Aramco to produce blue hydrogen, which is derived from fossil fuel resources such as natural gas.

 

Carbon dioxide captured and stored during the production process will also be provided to Saudi Aramco for the extraction of crude oil from exhausted oil fields.

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