Colombia Partners with Japan to Enhance Hydrogen, Ammonia Industries
- June 10, 2022
- Posted by: Quatro Strategies
- Category: Manufacturing
Japan’s state owned Bank for International Cooperation (JBIC) and Colombia’s state run oil company Ecopetrol have agreed to strike a partnership to develop Colombia’s hydrogen and ammonia industries.
JBIC looks to promote collaboration between Ecopetrol and Japanese firms through an initial deal signed on June, 8. The bank’s target includes the development of a supply chain of hydrogen and ammonia, as well as expanding clean technology, such as carbon capture utilization and storage (CCUS) and renewable energy sources.
Colombia is promoting its vast water supplies for green hydrogen production and natural gas resources for blue hydrogen. The government had set out its hydrogen roadmap in September 2021. It includes plans for production, utilization and exploration of hydrogen towards 2050. Moreover, Ecopetrol plans to invest up to $2.5 billion in hydrogen projects by 2040, as it looks to decarbonize operations.
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