[Asia Economy Reporter Jeong Dong-hoon] Lotte Chemical is expected to begin cooperation on the 'blue hydrogen' business by partnering with Aramco, the world's largest energy company.
According to the industry on the 11th, Lotte Chemical is discussing cooperation plans with Aramco for blue hydrogen and ammonia businesses. Blue hydrogen is produced through chemical reactions based on natural gas. The carbon dioxide generated during the process is captured and stored instead of being released into the atmosphere.
The management of both companies is coordinating a plan for Aramco to supply up to 1.5 million tons of blue hydrogen to Korea. Lotte Chemical is reportedly conducting a full-scale feasibility review centered on its Hydrogen Energy Business Unit, considering signing a memorandum of understanding (MOU) with Aramco and investing equity in the project.
Since green hydrogen obtained by water electrolysis still has clear economic and technical limitations, blue hydrogen is regarded as one of the most practical renewable energy sources. When blue hydrogen is converted into ammonia as a transport medium, it is called 'blue ammonia.'
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