Decarbonization: Vattenfall and Preem study options

The decarbonization of the economy is one of the major challenges of the next 20 to 30 years. The majority of Swedish carbon emissions come from industry and transport. Since 2019, Vattenfall and Preem have been working together to find solutions around renewable hydrogen and wind power.

A necessary decarbonization

Vattenfall and Preem have been collaborating since 2019. They are now entering a feasibility phase. This phase will assess the possibility of accelerating decarbonization on the Swedish west coast. By 2030 we will be looking to convert wind power and hydrogen into renewable fuels.

Vattenfall sees huge potential to decarbonize refining, petrochemicals, steel and fertilizers. This decarbonization could be done with renewable electricity and hydrogen.

Sweden has a leading position in the emerging markets for renewable fuels and materials. In order to strengthen this position, new partnerships between renewable energy providers are needed. It will also be necessary to include decarbonized industries and innovative cooperations in this circle.

Offshore wind and renewable hydrogen as a solution?

The Swedish west coast has a highly specialized refining and petrochemical industry. There is also a great potential for offshore wind and a strong will to transform. The projects recently announced by the Swedish TSO provide the framework for achieving these ambitions.

Preem is Sweden’s largest fuel company. It has already begun its decarbonization, which should be completed by 2035. To this end, it is making a transition to renewable and climate-neutral fuels.

Renewable hydrogen could be a good solution. In fact, it allows the decarbonization of refineries. Similarly, it promotes increased production of renewable fuels (HVO…). With a better supply of renewable hydrogen, Preem could explore the development of e-fuels.

For Vattenfall, the electrification of society and industry is at the heart of the business strategy. In addition, their offshore wind portfolio of more than 20 TWh offers many opportunities. According to Anna Borg, the CEO, cross-sector cooperation and partnerships are “the way to go.”

Magnus Heimburg, CEO of Preem, agrees. According to him, society’s need for fuel is increasing. However, renewable hydrogen supply remains scarce. Also, a new infrastructure combining offshore wind and renewable hydrogen would be the key.

The goal of this infrastructure would be to accelerate decarbonization. This would lead to a climate-neutral value chain by 2035. At the same time, it would allow the production of 5 million cubic meters of renewable and electric fuel. Heimburg finally adds that this can only be possible by joining forces and collaborating.

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