MOL starts production at green hydrogen plant at Hungarian refinery

MOL starts production at green hydrogen plant at Hungarian refinery

MOL began production at CEE's largest green hydrogen plant, built by US-based Plug Power for €22mn. / bne IntelliNews

By bne IntelliNews September 5, 2024

MOL has started production at the largest green hydrogen plant in Central and Eastern Europe, located at its Danube refinery near Budapest. The 10-MW capacity plant will produce 1,600 tonnes of carbon-neutral green hydrogen annually, which will be used in fuel production.

The green hydrogen plant in Szazhalombatta, built for €22mn by US-based Plug Power, utilises renewable electricity to split water into hydrogen and oxygen without producing harmful byproducts. The plant is expected to reduce the refinery's carbon-dioxide emissions by over 25,000 tonnes per year (tpy), the equivalent of the annual CO2 emissions of 5,400 cars. For every tonne of hydrogen produced, the plant also generates 8-9 tonnes of pure oxygen.

Green hydrogen production aligns with MOL's broader strategy to make the transition towards a more sustainable operation, meeting its Shape Tomorrow 2030+ strategy to diversify away from fossil fuels. Under the scheme, MOL has set out to spend $4bn+ organic capex on low-carbon and sustainable business projects until 2030.

Hungary’s leading oil and gas company plans to build similar plants in Bratislava and Rijeka by 2026.

MOL's Danube Refinery has a capacity of 165,000 barrels per day (bpd) of oil. With an annual capacity of 8.1mn tonnes, it is one of the biggest refineries in the region.

#Hungary #energy #hydrogen #MOL #renewables #bnegreen

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