12-08-2021

Wood captures growth linked to thriving hydrogen market

Wood has secured over 30 separate hydrogen awards in the first half of 2021 and anticipates continued growth in this space, with circa $600m worth of potential hydrogen projects coming to market in the medium term.

The contract awards span green, blue and bio-hydrogen projects and further strengthen Wood’s position as a key delivery partner in building out the hydrogen economy and helping clients navigate towards a low-carbon future.

Wood is delivering Pre-FEED work with ADNOC on a world-scale blue ammonia production facility in Abu Dhabi to drive the development of hydrogen in the Middle East. Similarly, Wood’s hydrogen technology is being used on the first advanced biofuels project in South America, at the Omega Green production facility in Paraguay, which aims to produce up to 20,000 barrels per day of renewable diesel and jet fuel.

Wood also entered into a three-year engineering framework agreement with Norway-based NEL Hydrogen to develop and execute large scale, complex green renewable hydrogen projects globally.

Earlier this year, Wood became a steering group member of the Hydrogen Council, a CEO-led initiative which brings together more than 100 companies from across the hydrogen value chain who share a commitment to decarbonisation and a net-zero future. Wood also appointed Josh Carmichael as Vice-President of Hydrogen to bolster its hydrogen experience.

Andrew Stewart, Executive President of Strategy and Development, said: “Hydrogen is a key growth area in our business strategy, and we are encouraged by the strong momentum in this market.

“Team Wood has over 60 years’ experience across the value chain from project development support through to proprietary hydrogen technology, modular equipment and engineering, procurement, and construction delivery. We have the best engineers in the world with deep domain expertise in this field and continue to invest in our technology to remain industry leading.

“As the world’s population increases, the demand for clean, affordable and reliable energy is unrelenting. Together with our clients, we’re unlocking hydrogen at pace and at an industrial scale as one of the mission critical pathways to a more sustainable future.”