REG - OMV Petrom S.A. - Financing through NPRR to produce green hydrogen

OMV Petrom SAAnnouncement

22/05/2023 08:45

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20230522:nRSV1779Aa&default-theme=true

RNS Number : 1779A  OMV Petrom S.A.  22 May 2023

 

 

 

OMV Petrom S.A.

Investor News

May 22, 2023

 

OMV Petrom obtained financing through NPRR to produce green hydrogen at the
Petrobrazi refinery

 

► Total investment value was estimated at approximately EUR 74 million,
with a maximum amount of approximately EUR 39 million to be financed through
the National Plan for Recovery and Resilience (NPRR)

► Green hydrogen will be used to reduce the carbon footprint of refineries
and for the mobility of the future

 

May 22, 2023 - OMV Petrom, the largest integrated energy company in Southeast
Europe, announces the signing of a financing contract through the National
Plan for Recovery and Resilience for the construction of a hydrogen production
capacity by water electrolysis at the Petrobrazi refinery. The contract was
signed with the Ministry of Energy, for a maximum value of about EUR 39
million, the total investment being estimated at about EUR 74 million.

Christina Verchere, CEO of OMV Petrom: "We believe that Romania has
significant potential for the development of green energy projects, and the
funds available to finance these projects open opportunities for the economic
growth of the country. By the 2030 Strategy, we are committed to support the
energy transition in Romania and in the region, with investments of around EUR
11 billion until the end of this decade, out of which approximately 35% will
support low and zero carbon projects."

Radu Căprău, member of the OMV Petrom Executive Board, responsible for
Refining and Marketing: "Green hydrogen opens new opportunities for a low
carbon emissions economy. It will play an important role in decarbonizing
refineries and in the sustainable transportation, whether we speak about road,
railway, or air transport, being one of the solutions for the mobility of the
future. We estimate that the hydrogen demand will increase significantly in
Romania, especially in the next decade. We believe OMV Petrom has the
opportunity to become the main integrated player on Romania's hydrogen
market."

The project involves putting into operation, within the Petrobrazi refinery, a
capacity of 20 MW for hydrogen production by water electrolysis. The entire
process will be powered by renewable energy. This means that no CO2 emissions
will be generated from the use of energy during water electrolysis, when the
separation of oxygen and hydrogen molecules happens.

The volume of green hydrogen to be produced has been estimated at over 2,600
tons per year. The integration of the obtained green hydrogen will lead to a
reduction of at least 70% of the CO2 emissions along the entire production
value chain of sustainable fuels compared to conventional fuels.

In the next period, the company will start the public tender for the purchase
of the electrolyzer, with the final investment decision to be made in 2024.
Completion of the works is estimated for 2025.

 

About OMV Petrom

OMV Petrom is the largest integrated energy company in South-Eastern Europe,
with an annual Group hydrocarbon production of approximately 43 million boe in
2022. The Group has a refining capacity of 4.5 million tons annually and
operates an 860 MW high-efficiency power plant. The Group is present on the
oil products retail market in Romania and neighboring countries through
approximately 780 filling stations under two brands - OMV and Petrom.

OMV Petrom is a company in which Romanian shareholders hold over 42% of the
shares (of which the Romanian state, through the Ministry of Energy, holds
20.7%, and 21.7% are owned by pension funds in Romania, to which are added
almost 500,000 individual investors and other Romanian entities). OMV
Aktiengesellschaft, one of the largest listed industrial companies in Austria,
holds a 51.2% stake in OMV Petrom, and the remaining 6.4% are held by other
foreign investors. Of the total shares of OMV Petrom, 28.1% represents the
free float on the Bucharest Stock Exchange and the London Stock Exchange.

OMV Petrom is the largest contributor to the state budget, with approximately
39 billion euro in taxes and dividends paid between 2005 and 2022. During the
same period, the company invested approximately 17 billion euro. In 2022, the
taxes paid by OMV Petrom ensured 7% of Romania's tax revenues.

Since 2007, OMV Petrom has included corporate responsibility principles into
its business strategy. Between 2007 and 2022, the company has allocated around
120 million euro to develop communities in Romania, focusing on environmental
protection, education, health, and local development.

On July 29th, 2020, OMV Petrom announced its support for the recommendations
issued by the Task Force on Climate-related Financial Disclosures (TCFD)
regarding risks and opportunities on climate change. OMV Petrom annually
reports on the progress made in implementing these recommendations.

 

 

 

Contact:

OMV Petrom Investor Relations

Tel: +40 372 161930, Fax: +40 372 868518

e-mail: investor.relations.petrom@petrom.com
(mailto:investor.relations.petrom@petrom.com)

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCSEFSWEEDSEDI