MOSCOW (MRC) -- Aramco, one of the world’s leading integrated energy and chemicals companies, and Linde Engineering, a global leader in the production and processing of gases, announced that they have signed an agreement to jointly develop a new ammonia cracking technology, said Hydrocarbonprocessing.
The collaboration between the two companies will combine Linde Engineering and Aramco’s experience and capabilities in industrial research and development, lower-carbon hydrogen, and ammonia cracking technology.
A potential differentiator of this new technology is the ammonia cracking catalyst, jointly developed by Aramco and the King Abdullah University of Science and Technology, which will be evaluated against other catalysts.
Through this agreement, Aramco and Linde Engineering plan to build a demonstration plant in northern Germany to showcase this new ammonia cracking technology. Linde Engineering intends to offer this ammonia cracking technology to current and new customers, creating new commercial opportunities within the global lower-carbon energy supply chain. The emerging lower-carbon ammonia business may prove to be key in bridging the gap between a country’s domestic renewable energy production capacity and total energy demand.
Ahmad Al-Khowaiter, Senior Vice President and Chief Technology Officer at Aramco, said, “This agreement is part of our ongoing technology and business development efforts to establish a commercially viable lower-carbon hydrogen supply chain. We believe the advanced ammonia cracking technology we are co-developing with Linde Engineering will play a key role in realizing our objectives."
John van der Velden, Senior Vice President Global Sales & Technology at Linde Engineering, said, “Effective ammonia cracking technology supports the world’s urgent need for decarbonization. By completing the missing link in the export chain, cleaner energy can be shipped from regions with high renewable and clean energy potential to those with more limited resources. We look forward to working closely with Aramco to develop and commercialize this important technology, creating new business opportunities for Linde Engineering and Aramco."
We remind, Aramco on Sunday reported a record net income of USD161.1 billion for 2022 — the largest annual profit ever achieved by an oil and gas company. Aramco said net income increased 46.5 percent over the year, from USD110 billion in 2021. Free cash flow also reached a record USD148.5 billion in 2022, compared with USD107.5 billion in 2021.