Blue Med & White Dragon Project in IPCEI

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Initiative

Blue Med & White Dragon Project in IPCEI

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Motor Oil was founded in 1970 and the first year of operation of its refinery was 1972.

Motor Oil is a modern energy group that holds a leading role in the field of crude oil refining and the trading of petroleum products in Greece and in the wider Eastern Mediterranean region, while at the same time it is active in the LPG, electricity and natural gas trading sector and in the sector of renewable energy sources.

It has been listed on the Athens Stock Exchange since 2001. It is included in the General index (ATHEX COMPOSITE INDEX), in the Large Cap index (FTSE/ ATHEX LARGE CAP), as well as in the international index FTSE4Good Index Series. Its Refinery is considered one of the most modern refineries in Europe with a complexity rating of 11.54 (Nelson Complexity Index).

www.moh.gr

Corporate videos & Statements

Objective Action

White Dragon: Development of an innovative, integrated green hydrogen project in the Greek territory. In addition, the creation of an Industrial Hydrogen Research Center

Blue Med: Development of a hydrogen production unit at the refinery. Creation of a cluster of integrated production cycle of low carbon footprint and renewable hydrogen for transport, distribution and use in industry and transport (buses and ships)

Target Audience

Investors, partners, suppliers, society, government

Duration

2021-2025

Description

Motor Oil Group comes one step closer to the emerging European Hydrogen value chain. The Blue Med & White Dragon projects were selected among the Important Projects of Common European Interest (IPCEI) "Hydrogen" that were pre-notified to the relevant European institutions.

Blue Med is developing the production of renewable and ultra-low carbon footprint hydrogen, with a target of 2025. The project includes the operation of the refinery's hydrogen production unit for carbon dioxide capture and is enhanced by the production of renewable hydrogen produced by water electrolysis.

White Dragon, with the participation of the country's largest energy groups, is a project to transform Western Macedonia into a valley of renewable hydrogen. The aim is to produce pure hydrogen for transport, distribution and use in industry as well as land and sea transport. The commitment of our Group is to support and implement development projects to strengthen the European Green Agreement and with the main goal of reducing the environmental footprint.

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Impact on Society

White Dragon: Gradual energy transition through replacement of lignite power generation units and transition to clean forms of energy, with the ultimate goal of decarbonizing the country.

Blue Med: Very low carbon footprint and renewable hydrogen production

Initiative Location

White Dragon: Western Macedonia

Blue Med: Corinth Motor Oil Refinery

Working with Organization

White Dragon: DEPA Emporias, Advent Technologies, Damco Energy, PPC, DESFA, ELPE, Pipeworks of Corinth, TAP, TERNA Energy, Region of Western Macedonia

Blue Med: PPC, DESFA

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