Motor Oil, one of the biggest refinery and petrochemical concerns in southeast Europe, has announced a four-billion-euro “energy transition” program in the wider region, with the center-piece being the 350-million-euro “Blue Med” hydrogen project, jointly undertaken with the Public Power Corp. (PPC).
The mega project will be implemented by the consortium Hellenic Hydrogen, with Motor Oil controlling 51% and PPC 49% of the scheme.
The project commenced in 2023 and is set for completion in 2028, with total of 10 companies participating from seven EU countries and the United Kingdom – under Motor Oil’s coordination.
At present, the ATHEX-listed refinery group is in the final stage of selecting a contractor for the electrolysis system, with the production of recycled hydrogen tentatively set for 2026.
Another production program, Trieres, eyes a smaller-scale hydrogen production at Motor Oil’s main refinery at the Aghii Theodori site, due west of Athens proper. The latter is expected to be completed in 2028.
Additionally, another project, called IRIS, aims to reduce the Aghii Theodori refinery’s environmental “footprint” by employing carbon dioxide capture technology via a steam methane reforming unit, essentially transforming into a hydrogen producer with extremely low CO2 emissions. Also, a synthetic methanol production unit will be built using renewable hydrogen and a portion of the captured carbon dioxide.
