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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Regarding hydrogen... an American company opens the door to investment in an Arab country

    Rocky
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    Regarding hydrogen... an American company opens the door to investment in an Arab country Empty Regarding hydrogen... an American company opens the door to investment in an Arab country

    Post by Rocky Tue 30 Jan 2024, 4:57 am

    Regarding hydrogen... an American company opens the door to investment in an Arab country

    Regarding hydrogen... an American company opens the door to investment in an Arab country 41174



    money and business
       


    Economy News - follow up
     
    [rtl]The American company Baker Hughes has opened the way for hydrogen investments as part of expanding its business outside the scope of oil field services, and its cooperation with the NEOM project in Saudi Arabia was the most prominent among its paths to developing hydrogen economies.[/rtl]
     
    [rtl]The company is investing in two tracks in Saudi Arabia, both related to hydrogen, in addition to unveiling a new hydrogen testing facility in Italy.[/rtl]
    [rtl]The company has always focused on field services in the world and supplying the oil and gas industry with drilling and production equipment, but its expansions into energy technologies and its involvement in the world's largest Saudi NEOM project in the field of green hydrogen constitute a different path for it.[/rtl]
     
    [rtl]Saudi cooperation[/rtl]
    [rtl]Baker Hughes - in cooperation with the American company Air Products - also provided the largest green hydrogen projects in the world, the “Saudi NEOM Project”, with the first two production lines of advanced solutions technologies for hydrogen pressure control.[/rtl]
     
    [rtl]The delivery came in accordance with the joint project agreement between: ACWA Power Saudi Arabia, Air Products, and NEOM, according to what the oil field services company announced on its website, yesterday, Monday, January 29, 2024.[/rtl]
     
    [rtl]In addition, the American company continues to invest in its manufacturing site in Saudi Arabia (Modon) to innovate testing solutions and provide projects in the Kingdom with hydrogen solutions and technologies.[/rtl]
     
    [rtl]Air Products Chief Operating Officer, Dr. Samir Sarhan, said that joint cooperation in spreading hydrogen technologies pushes the energy transition steps forward and achieve carbon neutrality.[/rtl]
     
    [rtl]Italy facility[/rtl]
    [rtl]The American company Baker Hughes intends to invest in a new hydrogen testing facility, and has chosen the Italian city of Florence as its headquarters.[/rtl]
    [rtl]This facility will focus on testing the NovaLT industrial turbines, to raise the mixing ratio in pipelines to 100%.[/rtl]
    [rtl]The facility tests the full loading of hydrogen into pipelines with clean fuel consumption flexibility of up to 100%, a pressure of 300 bar, and a storage capacity estimated at approximately 2,450 kilograms.[/rtl]
     
    [rtl]In its Italian facility, the company took into account the highest safety and security standards, especially since the testing process includes the condition of the turbines in different conditions, which adds more confidence in the operation of the technologies.[/rtl]
     
    [rtl]The company seeks to develop hydrogen technologies, both its own and to support customer projects through partnerships and cooperation, according to what was announced at the company’s 24th annual meeting in Italy.[/rtl]
     
    [rtl]The company supports the hydrogen economy as part of a broader strategy in the field of new energy, after Baker Hughes became known internationally for providing oil field services and drilling equipment.[/rtl]
     
    [rtl]In addition to deploying Baker Hughes technologies in Saudi Arabia and Italy, the company is collaborating with HyET to provide electrification technologies and high-pressure commercial hydrogen production.[/rtl]
     
    [rtl]It also signed a memorandum of understanding with Green Energy Park, a renewable energy company that owns global ammonia and hydrogen projects.[/rtl]
     
    [rtl]Under the MoU, the green hydrogen value chain will be developed, including: production, storage, transportation, and uses of hydrogen and ammonia as fuel, along with the development of major projects on a gigawatt scale.[/rtl]
     
    [rtl]The CEO of the American Oilfield Services Company, Lorenzo Simonelli, stressed that the energy transition has pushed towards strengthening relations and joint projects, with the main goal of innovation to achieve carbon neutrality.[/rtl]
     
    [rtl]Before the expansion of hydrogen technologies, the company’s contracts during the years 2022 and 2023 recorded growth in the American and global liquefied gas market, with contracts reaching $9 billion.[/rtl]


    Views 59
    Added 01/30/2024 - 9:06 AM
    https://economy-news.net/content.php?id=39946
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