Ineos announced plans to invest more than £1 billion in the Grangemouth refinery in Scotland as part of its efforts to achieve net zero emissions by 2045. The investment will be built on the 37% reduction in net CO2 emissions on site acquired by Ineos in 2005.

The British chemical company had previously promised to invest more than 500 million pounds in the approved and ongoing projects of the crude oil refinery. The company invested in a new energy plant, which is scheduled to be completed by the end of 2023. The plant will provide energy for all on-site operations and will help offset at least 150,000 tons of carbon dioxide emissions per year.

Ineos said that the latest announcement will facilitate the next phase of the refinery's transition to net zero. The Grangemouth refinery is operated by Petroineos, a joint venture established by Ineos and PetroChina in 2011. Ineos has developed a roadmap to reduce greenhouse gas emissions from refineries by more than 60% by the end of this decade. The company plans to achieve this goal through a series of investments, establishing partnerships and implementing innovative projects.

The road map calls on all businesses at the Grangemouth refinery to use hydrogen. Ineos said that by 2030, this will be accompanied by carbon capture and storage of at least 1 million tons of carbon dioxide per year. As part of the initiative, Petroineos will capture carbon dioxide from existing hydrogen production and will also build a hydrogen production plant to support carbon capture.

Ineos said that in addition to the electrification of key equipment, it will further contribute to emissions reduction through more investment in energy conservation and optimization. Stuart Collings, CEO of Ineos O&P UK, said: "The challenge we face is to provide a roadmap to ensure the transition to zero net worth. This can only be done if we remain globally competitive and stay ahead of changing regulations and legislation. Realization. Hydrogen will play a very important role in the decarbonization of our manufacturing plants."

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"Establishing infrastructure for large-scale use of hydrogen will lay the foundation for achieving net zero emissions by 2045, and will enable Ineos and other companies in and around Grangemouth to use hydrogen more widely." Grangemouth The refinery has a production capacity of nearly 9 million liters of fuel per day and 1 million tons of petrochemical products per year.Editor/Baohongying